Final SVB Annual Survey Participation Update

 

Survey Results as of 10/17 at noon

The SVB Annual State of the Wine Industry Survey closes this coming Sunday evening, October 17th. 

The great news is there has been a strong response rate this year, and we will close with a statistically significant response size above 500 total responses. The AVAs in seven regions will receive their own comps to compare performance against the other regions. 

A special thanks to Paso Robles for their record participation this year. Napa will again cross the 100-participant mark, so once again, thank you, Napa!  

I'd still love additional responses from wineries in Oregon, Washington, Lodi/Clarksburg, New York, Santa Cruz/Monterey, and Texas. With another seven to ten responses, each of the last four named regions will have sufficient responses to have their own regional comps too.

Please promote this post on your favorite social media to get the word out for the last push!

Adding your data to this annual industry event will only take about 20 minutes. 

Here are the survey questions that you can use to prepare: Link. 

Here is the survey itself: Link.

Is this a correction, or a small road bump?

Before discussing the topic, let me get some quick business out of the way: The SVB Annual State of the Industry Survey is open for two more weeks, and your participation is vital. We really need your help. We currently have 140 responses but need at least 500 responses. Why participate? 

The SVB Wine Industry Report has provided transparent, fact-based direction for the US Wine Industry for decades. The survey adds subjective color to objective data. That color produces better understanding, which is the first step in planning change. 

This survey is done in partnership with you the winery. Adding your data to this annual industry event will only take about 20 minutes. 

• Here are the survey questions that you can use to prepare: Link. 
• Here is the survey itself: Link.

Will there be a Silicon Valley Bank DTC Report this year? It's looking doubtful.

Without greater participation this last week, there will be no SVB Direct to Consumer Report produced this year.

It's always difficult to get survey participants. This year the effort had a higher degree of difficulty because the bank failed. I'm sure you heard that news. 

Three weeks later though, we were purchased by First Citizens Bank, and we are today operating as Silicon Valley Bank, a division of First Citizens Bank. 

During that dark period when we were being run by the FDIC, we literally had hundreds of people encouraging us to find a way to continue producing the gratis information we've done for more than 20 years. Because of that encouragement, with the ownership question behind, we decided to produce the Direct to Consumer survey and report, a month later than usual. It was the industry encouragement that was the deciding factor. 

Why Am I so Optimistic about 2021

Opportunity Knocks

Ebullience! That's a word we haven't heard much in the past year. But I predict that's only the start. You might soon also hear such rare terms as buoyancy, vivacity, and euphoria bandied about. 

Count me in the camp that is exuberant for the opportunity presented to us in 2021 - 2022. I can't wait to work again in a group practicing social nearness sans masks as in the headline picture... though my vision of tomorrow has a nicer desk than the headline picture. Why so cheerful you ask?

I covered some of the information in this post when we announced the opening of the SVB 2021 Direct to Consumer survey. 

What is the Industry Reporting for 2020 Results? The SVB Survey Has Early Returns [Still Open]

While the unprecedented impacts of the Pandemic and wildfires have rightfully absorbed the attention of the media and industry participants, the basic marketplace challenges I've reported in the 2020 State of the Industry Report are still alive and confronting the industry.

Data and information has never been more important than today. Changes to consumer behavior emanating from shelter in place orders, a recession, and the ruination of restaurants in America among other factors, are creating new changes for wineries, and yes - new opportunities as well if you listen and plan.

The Twentieth Silicon Valley Bank Winery Conditions Survey presents a view of business conditions sorted by region, average bottle price, time in business, and other filters, all to give participants an accurate read of the current industry, and all gratis to participants. The Survey is drawing to a close next week. If you haven't yet participated in this study, I encourage you to do so. Only participants get the complete set of anonymized data and analysis back, at no cost to participants for an investment of 15 minutes of your time. 

PLEASE - will you personally support the wine industry by committing to participate this year? 

Here is a link to a PDF file of the questions to prepare, and here is a link to the survey itself.

Is this the Last SVB Industry Survey?

Images from Pixabay

I am trying to put the pieces together to arrive at a decision to continue or discontinue the Annual SVB Industry Survey, and I need your help to decide.

Almost 20 years ago I recognized there was a severe lack of good data and benchmarks, so I came up with the idea to start an industry survey. It was a novel concept for the era and was immensely successful. For the first time, small wineries had real business information to help in decision-making.

We gave the complete set of information and analysis to respondents and also used it to formulate pieces of the SVB State of the Industry Report. We've been fully underwriting the effort at substantial cost and producing results free of charge ever since. It has to be a labor of love on our part. I don't think anyone would confuse it with a for-profit initiative! But we are at a crossroads.