As we are in a challenging moment regarding the global health situation, the direct effect of the COVID-19 pandemic on the world economy is having a brutal impact on the wine industry.
Various wine businesses around the world are adapting their organizations to this new situation. Creativity seems to be the most common and employed skill to implement new ideas in order to keep their businesses running. In this context, technology, online platforms and social media tools play a leading role to allow wine businesses to reach consumers at a moment in which mandatory quarantines around the world have prevented them from leading their regular lifestyles.
While the wine industry is facing this unprecedented and challenging situation, the market is trying to predict how the industry will evolve due to the effects of this crisis and what will come next. Will the COVID-19 pandemic cause huge changes in the wine industry and consumer mentality?
The effects of this global crisis could create new opportunities in the wine industry. The rising impact of this pandemic on the social, environmental and health concerns of consumers could also lead to the implementation of more sustainable strategies in the wine industry. Current trends have already shown an increase in the consumption of sustainable wines mainly among younger consumers.
Despite the common perception that sustainable wines being more expensive than regular ones, this is not always the case, and the wine industry has the opportunity to increase consumer attraction to sustainable products by explaining in more transparently the great added value of them.
In a moment of an unprecedented crisis with an invisible enemy, the rise in ethical, social and environmental concerns can be taken as an opportunity to increase the consumers’ awareness and engagement with sustainability.