Prowein Study: Digitalization has significant Potential for Wine Sector
Posted: Wednesday, 11 Sep 2024 23:04
Prowein Study: Digitalization has significant Potential for Wine Sector
In late 2023, Geisenheim University conducted the annual comprehensive survey, engaging over 2,000 industry experts from across the global wine value chain. The participants included wine producers from key wine-growing regions in Europe and overseas, as well as exporters, importers, specialist wine merchants, and representatives from the food service, and hospitality sectors.
This Report identified critical areas where digitalization could drive growth and innovation within the wine sector, ensuring that the business remained competitive and responsive to market demands:
- The wine sector is increasingly adopting customized digital solutions tailored to specific stages of the supply chain, with business management and marketing solutions being the most widespread.
- There is a significant level of untapped potential for growth in digital marketing tools, as more wine businesses recognize the importance of e-commerce, CRM systems, and personalization.
- To close the gap with other industries, the wine sector is focusing on e-commerce and web analytics tools to attract new customers and enhance online shop performance, indicating a shift towards data-driven marketing.
- Challenges in data management persist in the wine sector due to limited resources, underscoring the need for better data integration across the sector. The reliance on manual data entry suggests opportunities for automation and improved data handling.
- There is also strong potential for the use of advanced technologies such as AI for automated content creation and personalized customer interactions, even though this potential is currently underestimated by the industry.
- A clear digital strategy and defined processes are crucial for successful digitalization, highlighting the importance of a strategic approach. With 72% of experts recognizing the need for continuous learning and development.
- Wine businesses acknowledge the necessity to invest in digital skills and capabilities. However, only 15% of wine businesses plan to invest in new digital marketing solutions by 2025, according to the Report.
- Meanwhile, ProWein is hosting a digital ‘Business Talk’ ticketed Feature on 12 September in which 5 key industry experts will discuss the findings of the Special Report. Details are available in the Report
The study was commissioned by ProWein and carried out by the Department of Wine and Beverage Business at Geisenheim University under the direction of Prof. Dr. Simone Loose. Geisenheim University is known worldwide for its research and teaching in the field of wine science.
Subhash Arora