The wine industry – a staple to the Northern California region – may experience a growth in sales this coming year according to a new report by a major regional bank.
The Silicon Valley Bank released its Annual State of the Wine Industry Report for 2012 to 2014 on April 17. In the report, the bank attempts to address the trends and critical issues that the wine industry may be facing in the United States.
In this year’s report, the bank stated that the American wine industry can expect to grow about 7 to 11 percent in the coming year. The report also found that, with a shortage of grapes in the American Northwest and a strong economy to back the demand, prices may rise in American markets. But, the weak euro and abundance of European grapes may cause winemakers to see imported wineries see an increase in their market share.
But, most interestingly, the report said that Generation X is the best target for growth of these vintners. Although Baby Boomers are still the main demographic for wine consumption – taking 42 percent of the market while Gen X holds 30 percent – if vintners can find a way to convert speculative members of that generation into loyal customers, they can capitalize on the projected growth.
A great way to market toward a new generation of grape enthusiasts is through a successful revamping of brand image by designing custom labels. If wineries want to to test the waters of this untapped demographic, they may want to consider printing out a short run of custom wine labels for their bottles that will grab the attention of Generation X members by using a Primer LX-Series color label printer.