Pernod Ricard targets premium wine shoppers
Pernod Ricard UK has unveiled research claiming 58% of shoppers are willing to trade up to "premium" wines and has outlined plans to inject growth into the category.
The supplier says retailers are failing to reach consumers who are prepared to pay between £6.50-£8.50 for a bottle, as only 11% of households currently buy wine in that price bracket.
Pernod Ricard is working on new retail strategies to help drive sales of what it considers to be an under-exploited portion of the category.
The company has launched its Building Premium Wine Brands initiative to "drive value sales growth in wine by capitalising on, and accelerating, the existing trends of premium wine".
The drive hopes to use shopper insights and to develop a "range of practical in-outlet solutions to help retailers tap into consumers’ willingness to trade up to premium wines".
Deputy managing director Simon Thomas said: “Light wine is in marginal decline – a new and accessible source of value sales growth is required. One of the strongest opportunities lies in accelerating the existing trends of premium wine – we know that consumers are ready and willing to trade up and so tapping into this opportunity is key."