I think 2013 is going to be an exceptionally dynamic year for the Hong Kong wine trade. Not only is the market well past saturated, but with the emergence of wine deal platforms like slurp.asia, yeswine.com, thecrush.hk, and I'm sure many many more, wine prices are becoming more transparent. Top this all off with huge events like Vinexpo, HOFEX, Wine and Dine, and the International Wine and Spirits Fair, and it's sure to be a nonstop year.
First this means savings. Not only are there more avenues to procure wine, especially directly from the importer (ahem!), but there will also be a lot more undercutting. With this intense level of competition, no one can afford to overcharge the customer.
In addition, Hong Kong is a highly educated market. Hong Kongers are wine fluent, they know what it's worth, and they know where to find it (ahem!). This level of education also means that people aren't satisfied with a piddly selection. People demand variety and quality. Gone are the days of Chardonnay and Merlot, and in with the Roero, Xarel-lo, and Carignan!
For me as a wine drinker this is all very exciting. With places like California Vintage, La Cabane, and Tastings there is no shortage of scrumptiously interesting wine any day of the week. And with over 4,000 wine importers with their own private tastings and gatherings, you really should never want for winecitement in the good ole SAR.
Tighter margins! This industry is forced to get creative. Only time will tell, but I foresee that change is imminent. What's up our sleeve? You'll have to wait and see.
What does this mean for the customer?
First this means savings. Not only are there more avenues to procure wine, especially directly from the importer (ahem!), but there will also be a lot more undercutting. With this intense level of competition, no one can afford to overcharge the customer.
In addition, Hong Kong is a highly educated market. Hong Kongers are wine fluent, they know what it's worth, and they know where to find it (ahem!). This level of education also means that people aren't satisfied with a piddly selection. People demand variety and quality. Gone are the days of Chardonnay and Merlot, and in with the Roero, Xarel-lo, and Carignan!
For me as a wine drinker this is all very exciting. With places like California Vintage, La Cabane, and Tastings there is no shortage of scrumptiously interesting wine any day of the week. And with over 4,000 wine importers with their own private tastings and gatherings, you really should never want for winecitement in the good ole SAR.
What does this mean for the industry?
Tighter margins! This industry is forced to get creative. Only time will tell, but I foresee that change is imminent. What's up our sleeve? You'll have to wait and see.
Bring it 2013.
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