Treasury Wine Estates to double down on “insights”
Australian wine exporter Treasury Wine Estates (TWE) will focus on understanding its consumers to an even greater degree this year. The company, which wants its business to be driven by “compelling insights” has embraced innovative marketing methods – such as wine labels that come to life when viewed through a smartphone camera and tell you a story – in an effort to capture drinkers’ interest and retain market share.
Treasury Wine Estates’ share price has risen by 4% in five days
Source: Yahoo Finance
TWE’s general manager of global travel, Simon Carter, recently offered readers at Travel Retail News (an industry publication) a little more detail. In an interview, he said that one particular driver of new insights for the company would be its Third Retail Study (conducted last year): “this enables us to lead and drive category growth through initiatives that will drive footfall into the wine category. We also work closely with our retail partners to ensure we can stay up-to-date with key shopper trends and we share ideas and better leverage opportunities.”
One major demographic in which TWE hopes to use these insights is amongst Asian travellers – a segment long known to power luxury sales. Detailing the company’s exposure to this market, Carter said that cruises were a major factor. There’s sense in this: China accounts for more of the world’s cruise line market than the rest of the world combined.
Carter said: “In Asia, Penfolds Wine Vaults can be found onboard Dream Cruises’ Genting Dream (based in Singapore) and the World Dream (based in Hong Kong) where travellers can visit the wine vault and select a special back vintage or limited edition Penfolds wine to enjoy with their meal. The Genting Dream in Singapore also houses the ultra-rare Penfolds Aevum Imperial Service Ritual; a distinctive vessel specially handcrafted by legendary European glass and crystal house Saint-Louis and one of only five in the world.”
Dominion holds Treasury Wine Estates in its Global Trends Luxury Fund.
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