Study Shows Wine Price and Label Important to Millennials
I just came across a great research study about the wine buying habits of Millennials (Generation Y). The research was done by CalPoly student Annalise Larson and the study, called Generation Yine: the Millennial Generation and Wine Label Trends, is available for download here. If you don’t want to read the whole text, skip to the conclusions on page 26. Some of the most interesting findings were:
- 89.7% of Millennials feel that label design plays a role in their purchasing decisions.
- 57.1% of Millennials stated that all of the above (color palette, typography and graphics) were important to them.
- 51.3% of Millennials consider price when selecting wine, with most choosing to spend between $5-20 for a bottle.
While the results are a little skewed (there was not a broad spectrum of millennial ages represented and I suspect most participants were students, which limits their discretionary income) the findings still provide important insights for those targeting a younger generation of wine drinkers.