China is indeed one of the most interesting wine markets today, but also a market with a high risk. It is a huge number of actors in the market and generally speaking a very high turnover of companies that deal with wine in this market. Concealed Wines with its partner in China have a very solid network of buyers and deal mainly with very established importers and distributors in this market. We do not agree to source products for new clients unless they have a proven track record in the market and also pass our process of evaluating the company and that the company has a solid business.
In general Chinese buyers are very price orientated and general knowledge about wine in the market is lower than in matured markets like the Scandinavian markets as an example. In this market it is crucial to understand the buyer perspective as in all markets. Our role as an intermediate is to help supplier with this in order to propose products that well match with demand in the market, moreover this is way our clients let us source rather than to source direct from suppliers in Europe.
Our advice to suppliers is to understand the market and its preferences. Moreover it is a market where purchase behaviours today many times is that buyer purchase a products for a limited period of time and then switch to another product. Due to this behaviour it is crucial to stay active in the market and to promote a range of wines for more than one important buyer.
Links – Relevant market information
REPORT: Chinese market in figures and facts
REPORT: Consumer preference Chinese market
REPORT: Chinese preferences and knowledge about European wines