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Hey everyone, welcome back.

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Now we like to get into the weeds here,

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so today we are going deep on some really interesting

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trends in the wine world.

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Yeah, it's a great time to be talking about this.

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You know, we've got this new report

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from the SVB Wine Division.

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Oh yeah.

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Their annual direct to consumer report.

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And there was also this panel discussion

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with some real experts, you know,

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folks actually in the industry.

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Right, no, that's perfect,

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because we want to know what's really going on.

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Absolutely.

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So what I'm seeing here,

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and tell me if you're seeing the same thing,

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the report paints this picture.

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Yeah.

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Almost like a tale of two different wine industries, right?

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Totally.

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You've got your premium wineries,

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the ones that, you know, $12 and up a bottle.

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They seem to be doing okay.

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Right.

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But then everyone else,

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everyone under that $11 mark, it's a little...

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It's a little dicey.

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The data in the report, it really highlights that.

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So you see these, you know, really high inventory levels

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right across the board,

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the whole alcohol beverage industry.

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Wow.

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It suggests, you know, maybe people aren't buying as much.

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Things are slowing down a little bit.

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Exactly.

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Yeah.

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But, and this is key,

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when you zero in on the premium wines, you know, at retail,

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things are actually pretty balanced.

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Interesting.

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Like those bottles, they're moving.

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Okay.

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So it's really about, like you said,

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two different segments within the...

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It's such a good point.

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Yeah.

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Because wineries really need to know where they fit in.

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Absolutely.

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Like what is my strategy?

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100%.

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You gotta play to your strengths, right?

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And speaking of, you know, finding your lane,

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remember when Napa was the spot?

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Like everybody was going to Napa.

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Oh yeah, it was like the place to be.

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I mean, they were getting more visitors than Disneyland.

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I remember that.

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It was crazy.

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But it seems like those days, maybe, you know?

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Yeah.

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Are people falling out of love with wine country?

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No, no, no.

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I don't think it's that, it's just changing.

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Right.

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So yeah, overall tasting room visits, they are down.

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But, this is interesting, the report,

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it actually shows that that decline, it's slowing down.

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Okay.

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So you know, we could be turning a corner here.

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So maybe it's not that people don't wanna go?

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Yeah.

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They're just being a little more picky,

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a little more discerning.

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Exactly.

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Plus you've got regions, you know, Paso, Santa Barbara,

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they're actually seeing more people show up.

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Oh, interesting.

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So a little bit of a shake up in where people are going.

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100%.

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But here's where it gets really wild,

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even though fewer people are showing up, you know,

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at these tasting rooms, the people who are there,

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they're spending more.

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Really?

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So the tasting room purchases are actually up.

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Up.

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And this, I think, tells you everything,

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wineries are getting smarter, you know?

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Yeah.

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They're focusing on attracting those higher value customers,

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even if it means, you know, a few less folks overall.

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So quality over quantity.

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Quality over quantity.

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But, and I don't wanna, you know, kill the mood here,

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but we do have to address the elephant in the room,

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or should I say, the price tag on the bottle.

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Because the report, it does highlight

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this pretty significant increase in, well, everything.

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Tasting room fees, the cost of the bottles themselves,

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even, you know, that whole tipping culture,

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it's all going up.

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Yeah, and we're not talking about like a small jump either.

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No, no, we're talking 21% jump year over year

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just for tasting fees.

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Wow, that's a lot.

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So the question is, I mean, at what point is it too much?

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At what point do those higher prices

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actually start to scare those customers away?

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That is the million dollar question, isn't it?

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And it's a tough one, because on the one hand,

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you've got wineries, they have costs too, right?

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They gotta keep the lights on, but then you've got customers

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and yeah, they're willing to spend,

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but they also wanna feel like

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they're getting their money's worth.

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It's a tough balance to strike for sure.

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But what about those folks who maybe aren't making it out

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to the tasting rooms as much?

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You know, I feel like we hear a lot about the importance

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of direct to consumer sales, but it seems like a lot

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of wineries are still really reliant

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on those in-person visits.

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It's true, a lot of wineries, they do still lean heavily

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on those tasting room sales, but the report,

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it really shines a light on this huge missed opportunity,

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because guess what?

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There are tons of wine lovers out there

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who aren't necessarily making a pilgrimage

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to wine country every weekend.

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Right, and they still want their wine.

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Exactly, and they're buying it too.

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What's fascinating is that the report actually breaks down

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where the biggest spenders for direct to consumer wine are,

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and it's not necessarily where you'd think.

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Forget the coasts, we're talking about some surprising pockets

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of wine enthusiasts all over the place.

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Really, so what you're saying is there's a whole world

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of wine lovers out there just waiting to be reached.

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Exactly, and that's where things get really interesting.

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It's not like people are suddenly buying less wine online.

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Right, right, exactly, it's more like,

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how do you reach those people, right?

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Because it's not like the older days

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where you could just like put an ad in a magazine

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and call it a day.

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Yeah, those days are long gone.

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Everyone's online now, and it feels like,

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I don't know, everyone's shouting,

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and it's hard to break through the noise.

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100%, it's that whole crowded digital vineyard thing

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we were talking about, right?

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Wineries really need to step up their digital game

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if they want to stand out.

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So what does that look like?

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Is it just about like having a fancy website

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and posting on Instagram every day?

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It's definitely more than that.

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The experts on that panel, you know,

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they were really stressing the importance of personalization.

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It's not enough to just like blast out generic emails

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or hope for the best on social media.

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So what, like sending out handwritten letters

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to everyone on your mailing list?

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I mean, I love that idea,

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but it doesn't seem exactly scalable.

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Right, right, no, not handwritten letters,

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but you're getting at the heart of it.

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It's about using the tools we have, the data,

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the technology, to create a more personalized experience.

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So instead of those generic email blasts,

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think more like targeted campaigns,

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based on someone's past purchases.

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So if I bought a case of Pinot Noir last month,

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you might send me an email about, I don't know,

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an upcoming Pinot Noir tasting event.

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Exactly, or maybe it's a special offer on a new vintage

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or a curated selection of Pinot Noirs

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that you might enjoy based on your past purchases.

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Okay, now that's smart.

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I'd be way more likely to open that email

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than something totally random.

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Right, it's about speaking to people as individuals,

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not just a mass audience.

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And the same goes for social media.

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So less broadcasting and more like having

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actual conversations with people.

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Exactly, engaging with comments, responding to messages,

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running polls and quizzes, all of that helps

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build relationships and creates a sense of community.

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Community, I like that.

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It's about creating a sense of belonging,

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which is something I think people

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are really craving these days.

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Totally, and speaking of technology,

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we can't forget about good old fashioned text messaging.

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Oh, you mean SMS marketing?

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I've been seeing more and more of that lately.

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It might sound a little old school,

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but honestly think about it.

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People are glued to their phones.

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A well crafted text message,

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it can be a really powerful way to stay top of mind

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and drive those impulse purchases.

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So sending out a text like,

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hey, your favorite rosé is back in stock.

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Exactly, or maybe it's a last minute reminder

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about a flash sale or a special offer

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just for your VIP customers.

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The key is to be strategic

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and not bombard people with messages.

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Right, nobody wants to be spammed,

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even if it is with amazing wine deals.

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But this is all starting to sound

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a little overwhelming to be honest.

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How are wineries supposed to manage all of this?

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The personalized emails, the social media,

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the text messaging on top of actually making

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and selling wine.

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That's where things get really interesting.

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Remember how we were talking about

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artificial intelligence earlier?

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How some wineries are starting to experiment with AI?

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Yeah, like those robot sommeliers

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taking over tasting rooms.

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I'm not sure I'm ready for that.

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Huh, not quite.

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But AI can be a really powerful tool for wineries

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looking to up their digital marketing game.

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Think about it.

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AI can analyze massive amounts of data

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and identify patterns that would take a human marketer

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hours, days, maybe even weeks to uncover.

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So AI could help wineries figure out

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what kind of wines people are searching for online

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or what time of day is best to send out those text messages.

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Exactly, it can help wineries

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personalize those email campaigns,

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optimize their social media content,

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even craft more targeted SMS messages.

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Wow, so AI isn't just about robots.

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It's about like working smarter, not harder.

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Exactly.

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But, and this is a big but,

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the report also emphasizes that AI is just a tool.

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It's only as good as the people using it.

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So it's not like wineries can just set it and forget it.

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Exactly, they need to be thoughtful

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about how they integrate AI into their overall strategy.

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They need to ask the right questions,

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understand the limitations,

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and most importantly, make sure they're using AI

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ethically and responsibly.

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It's not about replacing human connection.

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It's about enhancing it.

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100%, and that brings us back to that idea of community

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and building relationships with your customers

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because at the end of the day,

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people buy from people they like and trust,

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whether it's online or offline.

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It's all about building those relationships,

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those connections that go beyond just a transaction.

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Now, what about those wine clubs

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we were talking about earlier?

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It seems like there's been a lot of talk lately

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about declining wine club memberships.

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Are people just not as into them as they used to be?

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It's interesting, right, because on the one hand,

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you have this whole movement

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toward personalization, customization, experiences,

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and then on the other hand, you have wine clubs,

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which can sometimes feel a little, I don't know, impersonal.

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Like, here's a discount, buy our wine.

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Exactly, and that might have worked in the past,

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but today's consumer, they're looking for more.

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They wanna feel seen, they wanna feel valued,

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they wanna feel like they're part of something special.

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So are wine clubs doomed?

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Are they getting to go the way of, like,

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fax machines and phone booths?

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Yeah, I don't think so.

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Wine clubs still have a lot to offer,

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but they definitely need to evolve to stay relevant.

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It's not enough to just offer a discount and call it a day.

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Wineries need to think about how they can create

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a wine club experience that's truly engaging, valuable,

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and tailored to the needs of their members.

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So what does that look like in practice?

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Give me some examples.

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Well, we're seeing a lot of wineries experiment

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with different formats, like virtual tasting items

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hosted by the winemaker or guest experts.

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Oh, that's fun, I'd love to do that from my couch.

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Exactly, it's a way to bring people together,

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even if they're geographically dispersed,

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and create that sense of community.

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It's like that old cheer song,

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sometimes you wanna go where everybody knows your name.

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Exactly, and wineries are getting really creative

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with the perks they're offering,

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exclusive access to limited edition wines,

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early release notifications,

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personalized wine recommendations

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based on your taste profile.

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Okay, now you're speaking my language.

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I love that idea of getting

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personalized wine recommendations.

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It's like having your own personal sommelier on call.

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Right, it's all about making people feel special,

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like they're getting something

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they couldn't get anywhere else.

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It's about adding that extra touch, that personal touch,

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that makes all the difference.

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So what's the secret sauce?

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How do wineries create a wine club experience

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that really resonates with people?

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I think it all comes back to data,

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and really understanding your customer.

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Wineries need to use data to understand

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who their members are, what they value,

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how they want to engage,

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and then use that information to create an experience

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that feels personalized, engaging,

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and ultimately worth the investment.

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It's about building a community,

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a tribe of passionate wine lovers

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who feel connected to the winery and to each other.

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Couldn't agree more.

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It's about creating an experience

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that goes beyond just the wine itself.

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It's about fostering those relationships,

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building that loyalty that will last a lifetime.

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It really feels like that's the common thread here.

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No matter what aspect of the industry we're talking about,

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it always seems to come back

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to that idea of building relationships.

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100%, you hit the nail on the head.

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It's like, yeah, the wine industry's changing,

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things are shifting, but those core values,

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connection, community, they're more important than ever.

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Absolutely.

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It's about creating an experience,

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both for those diehard wine enthusiasts

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and for those folks who are just starting to dip their toes

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into the wonderful world of wine.

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Totally.

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And you know what?

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I think those wineries that are really gonna thrive,

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they're the ones who are willing to really lean into that,

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the ones who are willing to take risks,

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to try new things,

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to really listen to what their customers want.

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It's about being brave enough to reimagine

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what the wine experience can be.

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It's not just about what's in the bottle.

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100%, it's the whole package.

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It's the story, the experience, the connection,

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and it's about creating those aha moments for people,

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the ones they'll remember long after that last sip.

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It's like you always say,

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we're in the business of memories, not just wine.

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And on that note, I think it's time to wrap things up.

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Cheers to that.

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Cheers.

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A huge thank you to everyone for joining us

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for another Deep Dive.

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We hope you learned a thing or two,

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maybe uncorked some new ideas,

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and most importantly, that you're feeling inspired

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to go out there and explore the world of wine

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with a fresh perspective.

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Until next time, happy sipping.