I’ve been thinking a lot about luxury goods lately and how wine is positioned in the luxury market. Wine is definitely considered a luxury product. Though the question for me is: does the price of the bottle determine whether a certain wine is considered a luxury, or is it the fact that it is a bottle of wine, no matter what the price point, that makes it a luxury product?
My feeling is that it depends on the customers who are buying it. Those without a lot of disposable income will still push the boat out a bit to buy a decent bottle of wine to serve to guests or take to a dinner party. The wine they bought may only cost $10 – 12, but that may still be more than they would normally spend on a bottle of wine. Of course there are also high-end buyers who will happily plunk down two or three hundred dollars for a bottle of wine.
So how do we sell wine as a luxury product? We should sell not only the wine but also what the wine symbolizes in the minds of the visitors who are purchasing it. Find out (by asking questions) what wine means to the people in your winery or tasting room and position your wine to fit the inner picture they have.
Set about creating value for the wine, value that has nothing to do with the price (whether the price is high or low). Talk about the dedication and passion that goes into making the wine – the nurturing of the vines and grapes, and how the quality of the wine is the result of careful attention to every detail (though, please don’t tell them every detail unless they ask – TMI can kill a sale faster than a speeding bullet).
Create feelings, create visuals and create the understanding that what the customer is buying is a luxury that they can be proud to serve.
A tip of the glass from me to you!