Sunday, May 7, 2023

The SVB 2023 Direct to Consumer Wine Survey is Open!

For those following closely, you will notice that I've changed the headline slide back from Rob McMillan on Wine, to the prior blog title of, SVB on Wine.

For most, hopefully it's obvious why I've done that. But for those who haven't followed the rollercoaster, SVB was taken over by the FDIC on March 10th. That was the end of the old SVB. 

But after a couple failed auctions, most of the legacy bank's assets were sold to First Citizens Bank, who decided to run the acquired bank as a division, and retain the name of Silicon Valley Bank. So we died and have been reborn! 

We have come full-circle. SVB's Wine Division has all the same employees doing the same jobs, and more clients than when we started. That's an amazing feat!

There is another thing that is back to normal, and that is that the Annual SVB Direct to Consumer Survey is OPEN. 

The survey is closing in on 15 years now, providing a dramatic history of the changing US Wine market during that time. It's a trended history we'd like to continue for the industry and academia.

The 2023 Direct to Consumer Survey is Open!

Another thing that is back to normal is the need for greater participation. The survey closes May 19th and as of today (March 7th) after almost 2 weeks, we only have 120 participants. At this point last year we had nearly 400 participants. The larger AVAs are listed above sorted by the surveys received as of March 7th.

How long will it take? 
It will take approximately 15‐20 minutes to complete. In advance of taking the survey online, feel free to download the questions here.

What's in it for me?
As a survey participant, you’ll get the full results with analysis and benchmarks in May at no cost to you. Your answers are strictly confidential and all individual personal information will be removed. 
 Why the astonishingly low participation?
We've had hundreds of people plead with us to continue with our industry support efforts when the FDIC owned us. That encouraged us to move ahead now. But about a dozen people tell us they received the survey notice, but didn't think we could possibly do it - thinking the invitation may be spam or phishing.  
It is hard to believe with the drama of the past six weeks that we're going forward with the survey, but we truly are back to normal and hope you'll help us get to the minimum 600 responses needed to do this survey.
What's can I to to encourage more participation?
Please [share the link] to this blog in your social media channels and encourage participation.

Are you ready participate in the survey this year? Download the questions [here], and...