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1、Produced by:Project managers:Project analysts:Rob McMillanMorgan JohnsonKatrina YoungReece SzymanowskiEmmanuel Roldan2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS2Rob McMillanEVP&Founder,SVB Wine DRob McMillan is one of the top wine-business analysts in the United States and the
2、author of Silicon Valley Banks highly regarded annual State of the Wine Industry Report,described by The New York Times as“probably the most influential analysis of its kind.”With Robs decades of experience researching the industry and working with winery clients,his views are sought after and trust
3、ed by winery owners,journalists,entrepreneurs and investors.He is a prominent speaker,domestically and internationally,and you will find him extensively quoted in national,regional and trade press.The direct-to-consumer(DTC)model continues to positively evolve and is doing so at an accelerating pace
4、.Its amazing to think that just a decade ago,direct-to-consumer sales were only about half the sales of an average winery.Nowadays,DTC sales are almost 75%of the average winerys sales!Back then,a quarter of the wineries that responded to the SVB Annual Survey didnt even charge tasting fees.Tasting f
5、ees have exploded higher since then.The Wave of the Future:Club Expansion Using DataThe wine industry is undergoing a significant and emerging transformation in the way consumer data is collected and used.The abundance of owned-data available from wineries,coupled with specialized industry vendors,r
6、epresents a tremendous opportunity for businesses to improve decision-making and more effectively target their customer bases to drive sales and club success.With the explosion of artificial intelligence and machine learning,the need to employ powerful data resources will only accelerate.Marketing d
7、ata management will become the next must-have discipline for successful wineries.Source:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS3Market Expansion:The Experience on the RoadWhile the world transformed to digital during the past thirty years,the wine indu
8、stry expanded its analog approach and made the tasting room the center of DTC strategy.The consumer came to us to experience our wine.Moving forward,we will have to pursue the consumer and take the experience on the road.E-commerce platforms now provide access to a national audience,breaking geograp
9、hical barriers.The adoption of digital strategies to obtain new club members beyond the tasting room is a marked change thats gaining traction and can enhance the sales opportunities for individual wineries.Finding the right path to engage with customers where they are will be one of the secrets to
10、success over the next decade.Wine Country:Market SaturationThe increasing number of wineries participating in DTC sales has led to market saturation.With more wineries vying for consumer attention,standing out in a crowded marketplace has become increasingly difficult.Established wineries often poss
11、ess greater brand recognition and consumer loyalty,making it challenging for new entrants to gain traction.Being different isnt enough.Understanding your brand and adapting it to evolving preferences will bring greater customer diversity and interest tomorrow.Source:2022 Annual DTC Survey2023 DIRECT
12、-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS4With SVB facing turmoil earlier this year,the production of the gratis SVB direct-to-consumer research was in jeopardy.However,the industry stepped up with strong vocal support,giving us the motivation to continue.Though we were delayed in relea
13、sing our annual DTC report,we ultimately decided to go ahead with it,albeit two months later than usual.Unfortunately,we had the lowest participation rate in our history.Its important to note that this is a partnership between the industry and the bank.Your participation in our surveys,in essence,is
14、 your vote to continue with these efforts.So,when you see an SVB survey open,please take the time to complete it.Its a small investment that can make a big impact on the industry as a whole.To those who participated in this survey,we are truly grateful.Without your help,this industry resource would
15、not exist this year.Your willingness to partner with us to advance the industrys success is inspiring,and we dedicate this report to your spirit.On behalf of all the respondents,we invite you to explore the 2023 SVB Direct-to-Consumer Wine Survey Report.Source:2022 Annual DTC Survey2023 DIRECT-TO-CO
16、NSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS5Digital Strategies6Tasting Room11DTC Channel21Wine Club30Wine Club Member Growth and Lifetime Value35Urban vs Winery-Based Tasting Rooms42Survey Respondent Profile4762023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKSSince the early 2000
17、s,when the internet first made online shopping possible,digital applications have been changing to support the direct-to-consumer(DTC)landscape.Starting around 2010,DTC accelerated due to the impact of the Granholm ruling and distributor change.Email was the first to revolutionize direct selling,fol
18、lowed by social media.The decade ahead will see a continued use of data to help operations and sales.The future of DTC will also be impacted by AI and machine learning,which will play an increasingly important role in consumer research and decision-making.While not categorized in this survey,the see
19、ds of AI have been planted with the mention of ChatGPT as an“Other.”2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS7Examples of Other(4%):ChatGPTPhone and mailer outreachOnline Marketing Tools Include:SEM,retargeting,SEO,driving sales to web,banner ads,etc.4%13%14%33%54%74%80%0%50%
20、100%Percent of RespondentsPlatform Analytics(i.e.Google Analytics)SMS Messaging(Text)Data AnalystOtherActive E-commerceSocial MediaEmailSource:2022 Annual DTC SurveyFor several years weve heard the occasional comment that email marketing is pass,but thats not what the data shows.Email marketing is s
21、till an effective marketing tool for most wineries.Open and click-to-open rates for Leisure and Hospitality,the closest to the wine industry,are approximately 20.2%and 8.7%respectfully,according to Campaign Monitors year-end 2022 report.For the wine business,open rates and click rates are roughly do
22、uble those results.Wineries that produce less than 100,000 cases and boast above$20 average bottle prices demonstrate the highest rates.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS811%27%38%37%40%39%40%47%52%35%45%4%9%11%10%11%11%14%13%10%5%13%0%10%20%30%40%50%60%$100Percent Ope
23、n/Click RateRetail Bottle Price35%48%38%42%44%36%33%25%10%17%10%11%8%4%6%4%0%10%20%30%40%50%1-2,5002,501-5,000 5,001-10,00010,001-25,00025,001-50,00050,001-100,000100,001-250,000250,000Percent Open/Click RatesAnnual Case ProductionOpen RateClick RatePoly.(Open Rate)Poly.(Click Rate)Source:2022 Annua
24、l DTC SurveySVB has been advising the industry for almost a decade that taking the wine tasting experience on the road is crucial for continued industry growth.Relying solely on the tasting room as the near-exclusive source of wine consumers is a risk.The COVID pandemic highlighted this issue even f
25、urther.The wine industry has responded.Moving forward,tracking and driving growth in club memberships outside the tasting room should be a goal of all wineries with clubs.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS9Percent of Members Acquired via Digital Media11%10%18%9%4%27%25
26、%10%89%90%82%91%96%73%75%90%0%10%20%30%40%50%60%70%80%90%100%1-2,5002,501-5,000 5,001-10,00010,001-25,00025,001-50,00050,001-100,000100,001-250,000250,000Percent of New MembersAnnual Case ProductionPercent of Members Acquired via Non-Digital MediaSource:2022 Annual DTC SurveySocial media has proven
27、effective as a means to build brand awareness,obtain customer leads and help in product promotion.Whether its truly successful as a tool for selling wine remains under debate.Instagram and Facebook reign in terms of wineries social media platform usage,with 79%of respondents utilizing Instagram and
28、68%utilizing Facebook.The key is to take those whove become brand aware and create a digital relationship with them.While Twitter(renamed post-survey to X)has yet to be a particularly useful tool,some of the newer platforms such as Thread may prove to be effective down the road.2023 DIRECT-TO-CONSUM
29、ER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS1079%68%15%4%4%0%10%20%30%40%50%60%70%80%90%Instagram Facebook LinkedIn TikTok OtherPercent of RespondentsSocial Media PlatformExamples of Other(4%):PinterestTwitter(renamed post-survey to X)YouTubeSource:2022 Annual DTC Survey112023 DIRECT-TO-CONSUMER WIN
30、E SURVEY:REPORT,RESULTS AND BENCHMARKS2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS12Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyWashingtonSource:2022 Annual DTC Survey0%10%20%30%40%50%60%70%80%90%200220%10%20%30%40%50%60%70%200220%10%20%30%40%50%6
31、0%70%80%20022200202002020020Go back to the early 80s and all wineries were walk-in,if they did tastings.By-appointment tastings would have been laughed at.However,the market has evolved.Prior to COVID,the majority of winery owners believed that changing fr
32、om the walk-in model to the by-appointment model would lead to a loss of customers.At SVB,we have been espousing the opposite.If you put balloons on the mailbox,the walk-in model brings in foot traffic,but not necessarily the right traffic.By-appointment tastings provide more information and better
33、control over staffing size.The approach gives tasting room employees more information about the customer ahead of an appointment making a cold opportunity,a warm one.Theres still a place for it;however,the pure walk-in model is now down to 27%.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND B
34、ENCHMARKS13BothBy AppointmentWalk-inSource:Annual DTC Survey,%32%43%43%17%41%29%29%56%27%27%27%0%10%20%30%40%50%60%70%80%90%100%20022Percent of WineriesSurvey Year202020223 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS02020212022$487.87$166.
35、27$164.74$158.96$235.31$53.11$162.73$101.44$69.31$0$100$200$300$400$500$600Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashingtonOther CaliforniaOther USTasting Room Purchase$164$68$67$70$101$51$70$59$400Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashi
36、ngtonOther CaliforniaOther USSource:Annual DTC Survey, DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS15BothBy AppointmentOpen to the Public50%14%33%60%73%42%34%35%40%11%15%14%7%6%47%47%61%53%89%79%50%71%60%40%22%11%19%4%7%6%0%10%20%30%40%50%60%70%80%90%100%$100Percent of W
37、ineriesRetail Bottle PriceSource:2022 Annual DTC SurveyHow does a winery owner determine how much to charge for a tasting?To a large extent they are paying attention to what their neighbors are charging.In the past,tasting rooms didnt charge fees.It was more about trying a wine and then buying it in
38、 the grocery store at home.The wine industry today has been on a long period of driving tasting fees higher,while adding extravagant experiences.The average reserve tasting fee is now$58,which means a group of four could end up paying$280,almost the cost of a nice dinner for four.In 2013 that amount
39、 was$22.Will new consumers will be willing to pay such fees in the future?A few wineries have stopped charging fees altogether,which may signal the end of the tasting fee arms race.We expect more variable pricing strategies to surface such as lower pricing during times of lower demand.2023 DIRECT-TO
40、-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS16$81$32$28$34$38$18$26$22$14$0$10$20$30$40$50$60$70$80$90Napa CountyOregonPaso RoblesSantaBarbaraSonomaCountyVirginiaWashingtonOtherCaliforniaOther USTasting Fee$128$59$48$61$72$38$53$45$20$0$20$40$60$80$100$120$140Napa CountyOregonPaso RoblesSanta
41、BarbaraSonomaCountyVirginiaWashingtonOtherCaliforniaOther USTasting FeeSource:2022 Annual DTC SurveyIts interesting to see how much has changed in the last decade regarding tasting fees.In 2012,almost a quarter of wineries nationwide did not charge tasting fees,which is quite different from the curr
42、ent landscape.In the survey respondent slides but not included here,the average tasting fee nationwide in 2012 was$8.50 and Napas average fee was the highest at$22.How will that change over the next decade?2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS17Source:2012 Annual DTC Surv
43、ey13.4%9.4%7.4%11.1%14.6%25.6%23.0%0%5%10%15%20%25%30%NapaOregonPaso RoblesSanta BarbaraSonomaWashingtonFull IndustryAveragePercent of Wineries Charging Tasting FeesRegions2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS18Change in Monthly Tasting Room Sales from Prior Year,Same Mon
44、thChange in Visitors from Prior Year,Same Month($15,000)($10,000)($5,000)$0$5,000$10,000$15,000$20,000$25,000$30,000$35,000(300)(200)(100)00500Nov-2021Dec-2021Jan-2022Feb-2022Mar-2022Apr-2022May-2022Jun-2022Jul-2022Aug-2022Sep-2022Oct-2022Nov-2022Dec-2022Jan-2023Feb-2023Mar-2023Apr-2023Ma
45、y-2023Change in Sales from Prior YearChange in Visitors from Prior YearDateSalesVisitorsSource:Community Benchmark2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS192020 was a bad year for humans,but a good year if you sold wine in grocery stores.It wasnt a good year if you sold out
46、of your tasting room.The situation reversed in 2021,once COVID lockdowns eased and wine tasting became one of the few things you could do.2021 was the best year in the past decade for premium producers.Visitation in 2022 and 2023 has dropped off those strong 2021 comps.Will visitation come back?Wher
47、e will 2024 take us?We believe reduced visitation is an aberration.Its an echo of COVID.People are catching up on delayed celebrations and travel,and passing by Wine Country.In 2024,were betting tasting room traffic returns.200212022Source:Annual DTC Survey,2018-20221,1535361,0248346991,9
48、141,0041,0251,08505001,0001,5002,0002,5003,0003,500Average Monthly VisitorsRegionNapa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashingtonOther CaliforniaOther US20181,4307031,1101,1161,2731,4828081,0661,50520191,3721,0791,4027811,0981,4649421,5322,75820204845927749325231,080331612985
49、20219448231,1711,7009322,9799351,1022,83720221,1535361,0248346991,9141,0041,0251,0852023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS202021202265%60%28%22%17%0%4%69%59%36%15%17%5%4%0%10%20%30%40%50%60%70%80%Tips and gratuitiesCompensation Per WineClub SignupCommissionBonus Based on I
50、ndividualGoalsBonus based on TeamGoalsResiduals PaidNonePercent of RespondentsCompensation TypeTips and GratuitiesCompensation Per Wine Club SignupCommissionBonus Based on Individual GoalsResiduals PaidNoneBonus Based on Team GoalsNote:Surveyed wineries selected all responses that applied.Source:201
51、4,2021 and 2022 Annual DTC Surveys212023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS1%2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS2219%13%68%3%7%1%25%26%2%3%DTCOff-PremiseOn-PremiseWine ClubOn-site EventsAllocated MembersOffsite EventsOtherInternet/WebPhoneTasti
52、ng RoomSource:2022 Annual DTC SurveyMore focus has been placed on wine clubs versus pure tasting room sales during the past decade.The SVB DTC Report provided metrics for the industry starting in 2011 when few benchmarks existed.This data has helped to shape the direction of the industry by giving o
53、wners the tools to make informed decisions.In 2020,with COVID closures,many wineries saving grace was the wine club.With COVID in the background,2022 appears to be the first-year wine club sales exceeded tasting room sales.There is every reason to expect this trend to continue.2023 DIRECT-TO-CONSUME
54、R WINE SURVEY:REPORT,RESULTS AND BENCHMARKS23Tasting Room46%46%43%41%41%28%42%37%32%33%36%38%38%36%37%39%5%6%9%9%16%12%10%11%2%0%5%10%15%20%25%30%35%40%45%50%2000212022Percent of Total DTCYearsWine ClubAllocated MembersSubscription SalesOnsite EventsOffsite EventsPhoneInternet/
55、WebVirtual TastingOtherSource:2022 Annual DTC SurveyThe adoption rate of internet sales has been slower in the wine industry compared to most others in the U.S.COVID accelerated the acceptance rate of online sales for wine by as much as five to ten years by some estimates.Interestingly,internet sale
56、s in the wine industry captured a significant component of DTC sales during COVID.However,as weve normalized,sales have moved back to pre-COVID levels.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS24Allocated MembersSubscription SalesOnsite EventsOtherOffsite Events5%7%7%5%5%5%1%2
57、%3%6%5%2%3%3%1%1%1%9%7%2%3%3%4%3%2%6%9%9%16%12%10%5%3%2%11%2%2%0%2%4%6%8%10%12%14%16%18%2000212022Percent of Total DTCYearsPhoneInternet/WebVirtual TastingSource:Annual DTC Survey,%76%75%65%53%51%37%9%81%81%74%60%49%46%24%30%0%10%20%30%40%50%60%70%80%90%1-2,5002,501-
58、5,0005,001-10,00010,001-25,00025,001-50,00050,001-100,000100,001-250,000250,000Percentage of DTC SalesAnnual Case Production2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS2520212022Source:2021 and 2022 Annual DTC Surveys-1%6%4%3%6%-2%-1%-8%-3%4%2%5%5%3%-3%2%5%-3%-10%-8%-6%-4%-2%0%2
59、%4%6%8%Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashingtonOther CaliforniaOther USAverage Percent ChangeRegions2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS26Average Change in DTC Cases SoldAverage Change in DTC Dollar SalesExcludes wineries with less than fi
60、ve years experience.Source:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS27Excludes wineries with less than five years experience.Source:Annual DTC Surveys,2018-2022 Its not surprising that the growth rate in cases sold is less compared to dollar sales in alm
61、ost every region.Over the past several years,the industry had light yields.Wineries had to make adjustments to release dates in order to stretch out case sales.Premium wineries can only sell what was vinified.Inflation with its higher input and labor costs would normally influence a producer to rais
62、e prices to cover costs.However,with the short yields,the need to raise prices has been even more important.The premium industry has been successful with modest price increases during 2022.2002120221.9%3.6%-1.3%4.9%2.3%-2%-1%0%1%2%3%4%5%6%-2.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%2018 2019 20
63、20 2021 20228.7%10.6%9.1%12.7%7.8%6.5%11.8%16.7%0.5%2.8%0%5%10%15%20%Average Change in DTC Cases Sold Average Change in DTC Dollar SalesAverage Percent ChangeAverage Change in DTC Cases SoldAverage Change in DTC Dollar Sales$107.79$52.59$53.53$54.14$57.26$31.73$49.79$35.29$26.27$0$20$40$60$80$100$12
64、0Retail Bottle Price2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS28Source:Annual SVB DTC Surveys,2017-2022In 2022,with the economy cooling,short vintages,and inflation running high,raising prices was necessary but difficult.Most producers did increase prices.The average winery in
65、 Napa crossed the$100 per bottle mark,while most others ended up between$50 and$57 per bottle.200212022Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashingtonOther CaliforniaOther US2018$94.26$39.46$44.40$41.28$45.14$26.52$33.74$31.36$23.342019$95.53$38.81$45.93$37.24$49.
66、48$27.69$34.51$31.50$22.882020$91.26$42.53$51.95$45.18$48.20$38.58$36.77$32.37$25.972021$90.67$51.09$43.38$42.35$54.68$33.05$42.33$34.35$20.022022$107.79$52.59$53.53$54.14$57.26$31.73$49.79$35.29$26.27Wineries with lower average selling prices are selling fewer cases and are getting a smaller dollar
67、 return.Wineries with higher average selling prices are selling fewer cases,but dollar sales are growing more than case sales.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS29Percent Change of Number of Cases SoldPercent Change of Sales Dollars($)Linear(Percent Change of Number of
68、Cases Sold)Linear(Percent Change of Sales Dollars($)Note:Excludes wineries with less than five years experience.Source:2022 Annual DTC Survey-12%-7%9%0%-3%-5%-2%18%4%-5%2%-5%-4%-1%4%0%7%2%6%11%3%4%-15%-10%-5%0%5%10%15%20%$100Average Percent ChangeRetail Bottle Price302023 DIRECT-TO-CONSUMER WINE SUR
69、VEY:REPORT,RESULTS AND BENCHMARKS2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS3%15%21%19%14%18%15%20%16%16%16%22%16%16%16%16%19%15%0%5%10%15%20%25%Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashingtonOther CaliforniaOther USPercent DiscountRegionSour
70、ce:2021 and 2022 Annual DTC Surveys2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS321,0461,3271,6606211,6622,6502,1791,1523,13205001,0001,5002,0002,5003,0003,500Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyNumber of membersRegionSo
71、urce:2022 Annual DTC Survey2.72.71.92.72.84.12.52.92.70.00.51.01.52.02.53.03.54.04.5Napa CountyOregonPaso RoblesSantaBarbaraSonomaCountyVirginiaWashingtonOtherCaliforniaOther USNumber of ShipmentsRegion2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS33Source:Annual DTC Survey,2022Wi
72、neries have been experimenting for years to find the optimal number of club shipments.The right number depends on what you measure.If its length of time in a club,the evidence shows more shipments reduce club duration.In our view,the most effective approach maximizes the lifetime value of each custo
73、mer versus an individual shipment.Discovering what a customer wants in a given year requires engagement.Ask them.We believe engagement,i.e.,knowing what your customer wants to purchase,is the secret to extending the length of time they remain a club member.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,
74、RESULTS AND BENCHMARKS34During the COVID lockdown in 2020,we had two distinct industry segments.Those selling in grocery stores raised their prices,while those selling through shuttered tasting rooms struggled to get consumers to purchase,particularly early on.Premium wineries went further with many
75、 adding free shipping as an inducement.Since reopening started,that has gradually reversed but consumers are still accustomed to free shipping.The compromise is to offer more discounted shipping.20212022Source:2022 Annual DTC Survey12%24%26%18%28%35%12%13%17%22%28%42%0%5%10%15%20%25%30%35%40%45%Free
76、 Shipping OverCertain ThresholdFree Shipping(Other)Free Shipping on allClubNo Free ShippingFree Shipping on allAdditionalDiscountedShipping on ClubShipmentPercent of RespondentsDiscounted Shipping CategoriesFree Shipping Over Certain ThresholdFree Shipping(Other)Free Shipping on All ClubNo Free Ship
77、pingFree Shipping on All AdditionalDiscounted Shipping on Club Shipment352023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKSIts useful to look at the growth in new club members along with attrition rather than net growth.Its far more profitable to grow a club by 5%along with 5%attritio
78、n,compared to growing a club 20%with 20%attrition.The latter instance has too much churn,requiring more overhead spending.While wineries in all regions are adding new club members more quickly than they are losing them,the rate of churn is uncomfortably high and the average attrition is 1%higher thi
79、s year than last.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS36New Wine Club Member Growth Rate:New wine club members acquired in 2022,divided by starting number of wine club members in 2022.Attrition Rate:Number of wine club members lost during 2022,divided by number of wine cl
80、ub members at the beginning of 2022.Excludes wineries with less than five years experience.Source:2022 Annual DTC Survey26.7%28.8%31.6%40.3%26.0%33.5%27.5%29.8%27.0%0%10%20%30%40%50%Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyPercent Growth RateReg
81、ion13.4%19.1%19.0%20.7%19.5%26.0%21.7%21.9%22.0%0%10%20%30%Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyPercent Attrition RateRegion2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS37Wine club sales were successful during the COVID-1
82、9 period particularly during the lockdown.Even though attrition was slightly higher in the spring of 2020 during the onset of lockdowns,net membership ended the year higher.However,there was a lower growth rate versus prior years.Growth in club memberships were spectacular in 2021 in part to tasting
83、 room reopenings,but also due to the growth in digital club member acquisition.Though lower in 2022,its wasnt reasonable to expect to continue with the 2021 growth rate.Net Wine Club Growth Rate:New club members acquired in given year,less lost club members in that year,divided by base membership le
84、vel at the beginning off that year.Excludes wineries with less than five years experience.Source:Annual DTC Survey,2017-2022n/an/a2002120225.3%10.4%5.8%3.9%6.6%19.6%12.6%9.7%12.1%0%5%10%15%20%25%30%Percent Growth RateRegionNapa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWash
85、ingtonOther CaliforniaOther US201810.6%12.6%5.6%15.3%18.3%6.4%14.6%15.4%25.9%201911.5%20.8%2.9%19.5%17.1%n/a21.3%22.5%n/a20202.0%4.5%7.8%0.3%0.1%5.8%9.4%4.3%12.7%202122.7%12.8%2.0%3.9%17.9%10.9%20.3%21.5%11.8%20225.3%10.4%5.8%3.9%6.6%19.6%12.6%9.7%12.1%2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESU
86、LTS AND BENCHMARKS3820.425.834.524.533.125.233.433.032.905540Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyMonthsRegionSource:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS39$1,608$1,713$1,896$2,111
87、$2,449$2,750$2,767$2,615$0$500$1,000$1,500$2,000$2,500$3,0002000212022Lifetime ValueSurvey Year2002020016Source:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS40$4,343$2,380$1,925$1,373$3,051$1,509$2,597$1,315$564$0$
88、500$1,000$1,500$2,000$2,500$3,000$3,500$4,000$4,500$5,000Napa CountyOregonPaso RoblesSanta BarbaraSonoma CountyVirginiaWashingtonOther CaliforniaOther USLifetime ValueRegionSource:2021 and 2022 Annual DTC Surveys202 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS2023 DIRECT-T
89、O-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS42Early on,urban tasting rooms in wine regions struggled to find their identity.While wineries had good traffic during the day,urban tasting rooms would often remain empty.Today,many owners are discovering that an urban location should have a diffe
90、rent feel.For higher-priced regions,an urban tasting room is an opportunity to present an entry-level experience priced more affordably and often geared to younger consumers.It can also be an oasis at night.Average tasting fees were up about 20%in urban tasting rooms and up a dramatic 40%at the wine
91、ries.Urban AreaWinery/Vineyard$123$134$130$159$148$189$156$218$0$50$100$150$200$25020022Average Tasting Room PurchaseSurvey Year20020Source:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS43Winery/VineyardUrban AreaBoth79%65%60%100%73%52%6
92、7%68%86%21%32%20%22%32%27%26%11%3%20%5%16%7%6%3%0%10%20%30%40%50%60%70%80%90%100%Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyPercent of RespondentsRegionSource:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS4
93、4Urban AreaWinery/VineyardUrban AreaWinery/Vineyard$16$23$25$30$20$35$29$40$0$10$20$30$40$50$60$70$8020022Average Tasting FeeSurvey Year20020$27$42$45$55$33$60$51$68$0$10$20$30$40$50$60$70$8020022Average Tasting FeeSurvey Year20020Source:2022 Annual DTC Su
94、rvey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS45As urban tasting rooms opened in different regions over the past decade,the experiences provided were found to be less robust than that at the wineries.Conversion rates were about 25%to 35%higher in winery tasting rooms compared
95、to urban tasting rooms,until 2021.This past year,results reversed,with conversion rates in urban tasting rooms exceeding those at wineries.At a minimum,this shows the benefits of having a second,more casual tasting room in a tourist region.2023 visitation numbers suggest they may be lower than 2022.
96、Urban AreaWinery/VineyardBoth1,1721,8896601,5481,0576267734486484601,3311,5886281,4821,008001,0001,2001,4001,6001,8002,000200212022Number of VisitorsSurvey Year200212022Source:2022 Annual DTC Survey462023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS20
97、23 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS474.8%13.3%6.9%5.7%15.4%7.8%5.1%15.7%25.3%0%5%10%15%20%25%30%Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyPercent of RespondentsRegionSource:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER
98、 WINE SURVEY:REPORT,RESULTS AND BENCHMARKS482.7%3.7%4.7%8.1%15.8%17.6%19.3%28.2%0%5%10%15%20%25%30%250,000100,001-250,00050,001-100,00025,001-50,00010,001-25,0005,001-10,0002,501-5,0001-2,500Percent of RespondentsCases Produced AnnuallySource:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY
99、:REPORT,RESULTS AND BENCHMARKS491.2%2.7%10.5%15.4%17.5%12.3%11.4%6.9%4.8%3.6%13.6%0%2%4%6%8%10%12%14%16%18%20%$100Percent of RespondentsAnnual Case ProductionSource:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS50$26.08$35.29$50.85$31.73$57.26$54.14$53.53$52.
100、59$107.79$0$20$40$60$80$100$120Other USOther CaliforniaWashingtonVirginiaSonoma CountySanta BarbaraPaso RoblesOregonNapa CountyRetail Bottle PriceRegionSource:2022 Annual DTC Survey2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS51Silicon Valley Bank,a division of First-Citizens Ban
101、k&Trust Company is the premier commercial bank for emerging,growth and mature companies in the technology,life science,venture capital,private equity and premium wine industries.Its Wine Division specializes in commercial banking for premium wineries and vineyards and the industries that support the
102、m.SVB has the largest team of commercial bankers dedicated to the wine industry of any bank nationwide.Founded in 1994,SVBs Wine Division has offices in Napa,Sonoma and Oregon.It serves clients in the fine-wine producing regions of California,Oregon and Washington.By virtue of its dedication to the
103、wine industry,Silicon Valley Bank is able to support its clients consistently through a range of economic cycles,and offer guidance on many aspects of their businesses beyond traditional banking services.Silicon Valley Bank,a division of First-Citizens Bank&Trust Company is a member of the FDIC and
104、the Federal Reserve System.More information on the company can be found at .This material,including without limitation the statistical information herein,is provided for informational purposes only.The material is based in part on information from third-party sources that we believe to be reliable b
105、ut that have not been independently verified by us,and for this reason we do not represent that the information is completely accurate or complete.The information should not be viewed as tax,investment,legal or other advice,nor is it to be relied on in making an investment or other decision.You shou
106、ld obtain relevant and specific professional advice before making any investment decision.Nothing relating to the material should be construed as a solicitation,offer or recommendation to acquire or dispose of any investment or to engage in any other transaction.The views expressed in the article ar
107、e those of the author and do not necessarily reflect the views of Silicon Valley Bank,a division of First-Citizens Bank and First Citizens BancShares,Inc.Silicon Valley Bank,a division of First-Citizens Bank&Trust Company is not selling or distributing wine or wine-related products.Through the onlin
108、e informational platform,SVB Cellar Selections,Silicon Valley Bank provides material to employees about a variety of premium Silicon Valley Bank winery clients and their wines.These communications are for informational purposes only.Silicon Valley Bank,a division of First-Citizens Bank&Trust Company
109、 is not responsible for nor is it a participant in,the sales of any winery products in any fashion or manner and makes no representations that any promotion or sales of alcoholic beverages will or will not be conducted in a lawful manner.Further,Silicon Valley Bank disclaims any responsibility or warranty for any products sold by wineries or other wine industry service providers.2023 Silicon Valley Bank,a division of First-Citizens Bank&Trust Company.All rights reserved.2023 DIRECT-TO-CONSUMER WINE SURVEY:REPORT,RESULTS AND BENCHMARKS52