China: Call for cheaper wine as economy slows

(ChinaDaily) - Both Bordeaux and Chinese producers seek less expensive brands to widen market

The wine industry in China is paying more attention to less expensive brands as an increasing number of Chinese people seek more affordable imported bottles to enjoy socially rather than for business purposes.

The figures from Wine Intelligence, a London-based consulting firm specializing in the wine business, show that in the first quarter of 2013, 69 percent of 1,024 people surveyed aged between 18 and 50 in China said they usually spent less than 200 yuan ($33) on imported wine for a casual occasion. Wine Intelligence did not provide figures for previous years because there was a change to its survey methodology. However, Wine Intelligence said there is growing demand for less expensive wine in China.

"There is a growing trend of drinking wine for pleasure rather than buying it primarily as a gift or serving it at banquets as a status symbol and, along with this growth in more casual drinking, there's also a higher demand for wine at more affordable price points," said Maria Troein, China country manager of Wine Intelligence.

There is no industry definition for entry-level wine or affordable wine. However, industry insiders said wine priced below 200 yuan could be defined as entry-level wine.