Born from 1997 onward, this generation will have a growing influence on the dynamics of the wine market and, more generally, the beverage industry. They share some characteristics with Millennials, the generation born between 1980 and 1996, but they are children of the digital divide and have a different spending capacity.
Those born from 1997 onward, known as Generation Z, will be the wine consumers of the future, with increasing influence on the beverage market. They will follow the Millennials, born between 1980 and 1996, protagonists of the 2000s, and Gen X, born between 1966 and 1979, great wine lovers, and the Boomers, born between 1946 and 1965, who are entering the descending phase of consumption.
The wine industry’s hopes are pinned on the younger consumption groups. But while the other categories are well known to the wine industry, Generation Z is more difficult to interpret. Born after the digital divide, they are users of all social platforms, but at the same time these are the children of the economic crisis of the 2000s and a constantly changing world. So, it is necessary to better understand the trends and strategies to be applied, to enter into dialogue with the younger generations who love wine but are at the same time very health-conscious.
Millennials remain the current beating heart of the global beverage market, having driven the 12% increase in global consumption during 2021, all via e-commerce and social media. Less affected by the restrictions of the pandemic, the Millennial target audience tends to follow the logic of “less but better”, buying select products in the premium range – a trend set to continue with Generation Z.
The wine market is still supported by Boomers who are now approaching retirement age, a period when consumption declines significantly.
Millennials drink less than previous generations, but they buy better. The youngest, Gen Z, are no exception and seem to drink even less. The reasons for this are purely cultural as they are a generation more aware of the devastating impacts of climate change, but they are also more discerning consumers.
We need to go faster to anticipate social change, to be interpreted in relation to the current economic environment. The wine industry is facing a complex challenge, attracting new generations and overcoming some historical shortcomings compared to other beverage segments.
At La Civiltà del Bere, we are at the forefront of embracing change, and with our new Dubai office, we hope to be increasingly connected, especially when it comes to wine consumption.
