tag:blogger.com,1999:blog-941731830705031230.post8912531997275525002..comments2024-03-11T03:24:58.582-07:00Comments on SVB on Wine: Selling Millennials Through Myths & Lies (Final Part 3)Rob McMillan rmcmillan@svb.comhttp://www.blogger.com/profile/12396624790174552807noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-941731830705031230.post-11431130018827532602016-06-30T14:25:35.102-07:002016-06-30T14:25:35.102-07:00A reader sent the following article which I though...A reader sent the following article which I thought I would add to the discussion for others: http://qz.com/720456/the-myth-of-millennial-entitlement-was-created-to-hide-their-parents-mistakes/Rob McMillan rmcmillan@svb.comhttps://www.blogger.com/profile/12396624790174552807noreply@blogger.comtag:blogger.com,1999:blog-941731830705031230.post-5742904446232545382016-06-18T15:54:59.512-07:002016-06-18T15:54:59.512-07:00APREMAT - thanks for logging in and for the commen...APREMAT - thanks for logging in and for the comments. I agree with everything you said. I would add the issue of selling to a younger consumer without the financial prospects as the boomers they are replacing is a perplexing issue. Can we hold the prices we've earned over the years with that kind of change, and with good foreign wine available and the young consumer willing to experiment. <br /><br />We aren't without hurdles, but we are starting from a solid base of great quality and still upside in better defining growing regions - making wine even better.Rob McMillan rmcmillan@svb.comhttps://www.blogger.com/profile/12396624790174552807noreply@blogger.comtag:blogger.com,1999:blog-941731830705031230.post-64051411473225579482016-06-18T08:05:07.058-07:002016-06-18T08:05:07.058-07:00There are a number of “headwinds” facing the wine ...There are a number of “headwinds” facing the wine industry in terms of selling higher priced wines to the millennial generation. <br /><br />Nielsen’s recent report on minorities is telling for the future of the wine business<br /><br />http://www.nielsen.com/us/en/insights/news/2016/pleasing-multicultural-consumers-palettes-can-drive-growth-for-alcoholic-beverages.html<br /><br />The number that struck me the most was the number of respondents: 199,303<br /><br />Wine Market Council’s data sets are always far too small to get statistically reliable or valid data in the .01 level of confidence that Nielsen’s data provides and business needs to make good strategic investment decisions. <br /><br />• The demographics of minorities drive the millennial generation in many ways. For wine preferences majority minority means more genetics from Asia, and Africa, which means a genetically determined tendency towards far greater taste bud density, which means more sweet wine drinkers. www.tastescience.com<br />• The rise of China, India and the EU (for now) means our economy is linked in ways that will most likely lower not raise incomes. The middle class hasn't had a raise since the 70's and the world is even more competitive. Wages are not keeping pace with inflation and premium and ultra premium wines are becoming less affordable luxuries. <br />• Automation and technology are replacing more white-collar jobs. <br />• Our k-12 public education system is at best mediocre and compared to China, Japan, India and the EU a joke. The entrenched interests (teachers unions) and the US constitution (a states right to ruin a child's future by providing no education to poor and minority children is permanent for the foreseeable future.) So the need for trained effective employees will lead to more visas for immigrants from places that don't drink wine.<br /><br />APREMAThttps://www.blogger.com/profile/17718359798162455694noreply@blogger.com