Premium Wines : Here to stay?
What is premium wine, what does it take to be one and how can a consumer differentiate?
The trend towards premiumization in the UK drinks industry refers to the growing consumer demand for high-quality, premium products. This has resulted in companies focusing on producing premium-priced drinks and marketing them as luxury items.
This has translated into an increase in demand for premium spirits, fine wines, and craft beers. Consumers are willing to pay more for a premium experience, and companies are responding by offering products that are higher in quality, with unique flavor profiles and packaging.
Premiumization has also led to the growth of specialty stores and online retailers, offering consumers a wider range of premium products. In addition, many bars and restaurants are now offering premium drink menus, featuring rare and high-end alcohol options.
In the UK, the term "premium wine" typically refers to wines that are of high quality and are priced higher than the average wine in the market. These wines are often made from carefully selected grapes grown in prime vineyard locations and are produced using traditional winemaking methods.
There is no set definition of what constitutes a premium wine in the UK, as the term can be subjective and can vary depending on individual preferences and perceptions. However, some common characteristics of premium wines include:
1) High quality: Premium wines are generally made from high-quality grapes and are produced using traditional winemaking techniques.
2) Limited production: Many premium wines are produced in limited quantities, which can contribute to their exclusivity and high price.
3) Unique flavor profile: Premium wines often have a unique and complex flavor profile that sets them apart from lower-priced wines.
4) Aging potential: Many premium wines have the potential to age well, developing more complex flavors and aromas over time.
5) Brand recognition: Some premium wines are associated with well-known brands or winemakers, which can contribute to their perceived value and desirability.
This trend towards premiumization has been driven by a number of factors, including the increasing importance of health and wellness, the desire for unique and locally-sourced products, and a growing focus on sustainability. As consumers continue to seek out high-quality experiences, premiumization is likely to remain a key trend in the UK drinks industry.
Along with specialty stores, and thematic marketing, even competitions have started featuring Premium Wines such as London Wine Competition.
Entering brands are judged by a panel of the top UK experts including master sommeliers, bar owners, wine buyers, etc.
To see the 2022 and 2021 winners - click here.
2023 winners to be announced on 12th April 2023. STAY TUNED.
Written by Stuti Khetan, Beverage Trade Network.