There is something changing in the business environment. You can feel it. Business is good, but it's fundamentally changing. You have examples of change in the way your business is functioning right now. The consumer is different, but what's causing the change and how will the change impact you?
Those are the questions business owners should be asking today because change creates both opportunities and threats. So we need to understand what's happening in measurable ways. We all need to know exactly what's transpiring, but how are you going to get that business intelligence?
I've always been frustrated by the lack of actionable information and the availability of street-level intelligence in the wine business. There was plenty of information on wine-making and grape growing, but there was never satisfying business intelligence available. What is really happening? How can I know if a decision is sound without any reference points?
With no good information available, more than 15 years ago I started doing annual research just to make sure the wine community had a starting point. There is a lot to talk about today:
Fast forward to the present and today the Silicon Valley Bank Annual Wine Report has filled that gap and is answering many of these types of questions. We have started conversations that have helped foster wine industry evolution.
In preparation for the report, for more than a decade we've led a survey and in most years have more than 1,000 wineries respond. The effort is so critical, it's supported by every major AVA on the west coast and many across the other growing regions of the US and Canada.
Why are we so lucky to get such strong participation? I think there are a few reasons:
Those are the questions business owners should be asking today because change creates both opportunities and threats. So we need to understand what's happening in measurable ways. We all need to know exactly what's transpiring, but how are you going to get that business intelligence?
Story of My Life
I've always been frustrated by the lack of actionable information and the availability of street-level intelligence in the wine business. There was plenty of information on wine-making and grape growing, but there was never satisfying business intelligence available. What is really happening? How can I know if a decision is sound without any reference points?
With no good information available, more than 15 years ago I started doing annual research just to make sure the wine community had a starting point. There is a lot to talk about today:
- What are emerging trends in Direct to Consumer sales?
- Is there any pricing upside available in my price segment?
- Will M&A continue and if so, what are buyers seeking?
- What growth rate can I anticipate next year?
- Where should I look for new consumers?
- Are imports or cannabis going to cut into sales?
- Will grape prices increase next year?
Fast forward to the present and today the Silicon Valley Bank Annual Wine Report has filled that gap and is answering many of these types of questions. We have started conversations that have helped foster wine industry evolution.
Survey is the Beginning of Wisdom
In preparation for the report, for more than a decade we've led a survey and in most years have more than 1,000 wineries respond. The effort is so critical, it's supported by every major AVA on the west coast and many across the other growing regions of the US and Canada.
Why are we so lucky to get such strong participation? I think there are a few reasons:
- We deliver good and needed information to the business for free.
- We keep the information completely anonymous.
- We've earned your trust that we aren't selfishly using this information to sell you banking ... though I do hope you bank with us.
- We give back more than we take. Only survey participants receive the complete data set back and that helps everyone in planning for the year ahead.
The survey is scheduled to run from October 1st through the 19th, so please make it a point to participate and support the wine community in this research effort. Your short participation will pay itself back many times over for both you and the business as a whole.
Here is a link to a PDF of the questions:-----> [LINK]
Here is a link to the survey: -----> [LINK]
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