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Hong Kongers spend $5000 annually on premium wine

Hong Kongers Spend $5,000 annually on premium wine
 (26 September 2013) Hong Kongers’ thirst for wine continues to increase, while the mainland experiences dramatic growth, remaining a hotbed of potential within Asia’s wine consumption market. In order to understand Hong Kong consumers’ wine consumption habits and purchasing behaviour, the Cathay Pacific Hong Kong International Wine & Spirit Competition and Meiburg Wine Media conducted a “Hong Kong Wine Consumption Survey” starting in August this year.  The survey findings show that more than half of the respondents (51%) enjoy wine several times a week, and more than half of the respondents (58%) spend more than HK$5,000 annually to purchase wine, reflecting Hong Kong people’s growing taste for wine and their willingness to spend more on wine.
Speaking in today’s press conference, HKIWSC director, Debra Meiburg MW, said "in recent years, the Asian markets, particularly China, has seen a growing demand for wine. At the same time wine knowledge is increasing. The newly-affluent middle class is choosing premium quality wines, tastes have become more discerning and the average spending on wine is increasing, creating a huge potential in the market for quality wines."
The survey was conducted in August-September this year via a questionnaire. The survey targeted respondents who are 18 years old or above, and successfully collected 508 responses, of which more than half of respondents (51%) enjoy wine several times a week, while 21% of the respondents drink wine every day. 15% of survey respondents spend HK$3000-5000 annually on wine and more than half of the respondents spend more than HK$5000 (58%). The majority of respondents frequently enjoy wines during their meals, and some of them regularly pair wine with Chinese cuisine.
The survey found that Hong Kong people are fastidious regarding the quality of their wine and often seek professional advice when purchasing wines. 68% of respondents purchase their wine from a private merchant or retailer, four times more than those who mainly shop for wines at the supermarket. 67% of the respondents purchase their wines based on suggestions from friends or family.
As for wine consumption patterns, a large majority of the respondents prefer to consume wines either at home or at restaurants. 33% of respondents spend HK$201-350 on wines each time they visit a wine store, while approximately 22% of respondents spend HK $351-500. As for drinking wine at restaurants, respondents are willing to spend 30% more than at wine stores.  30% of the respondents said they spend between HK $351-500 and 25% spend between HK$501-750.
The Cathay Pacific Hong Kong International Wine and Spirit Competition returns! – Pick the Best Asian Wine
Also in the press conference, Debra Meiburg MW announced the return of the Cathay Pacific Hong Kong International Wine and Spirit Competition (HKIWSC), Asia’s first and most widely respected wine and spirit competition. Proudly entering its fifth edition, HKIWSC 2013 continues to receive the full support of wine and spirit producers around the world.
HKIWSC 2013’s judging will begin next week (from 2nd to 6th October). This year, the star-studded judging panel includes luminaries from the international wine and spirit scene, Ms. Vanya Cullen and Mr. Ian MacMillan, accompanied by Asia’s most esteemed wine judges from Hong Kong, China, Macau, Singapore, Japan, Korea, Malaysia, Taiwan and India, who will be working together to select the best wines for Asian consumer tastes. The results will be announced at the Hong Kong International Wine & Spirits Fair (from 7th – 9th November 2013).
Issued by:                 The Hong Kong International Wine & Spirit Competition (HKIWSC)
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