Does a wine packaging influence the Consumer? - Empirical analysis on habits and preferences of Millennials

Abstract

The economy is constantly evolving. And, likewise, consumers and their preferences are constantly changing. Old customers are replaced by new generations that acquire market power, purchasing power which shape future fashions. It is obvious, therefore, that companies and especially marketers refine their strategies based on the segment they want to conquer, adapting it to their needs, preferences and possibilities. Segmenting by age is the most common strategy that can be found in companies that deal with food production and the wine industry is no exception: tastes change, the appearance of the bottle gains more and more importance and new wine buyers are shaping the market. Generation Y, also known as Millennials, has great purchasing power and is slowly modyfing the economy, trends and preferences of the future. Through the compilation of an online questionnaire, the Millennial's attitudes, behaviours, consumption habits and values are analysed, in order to give the wineries indications and suggestions on how to conquer the generation that “loves to shop”