As the U.S. wine industry basks in the glow of premiumization once again, the issue of luxury wine pricing is gaining more attention. However, a review of the luxury wine marketing literature generates more confusion than light on the issue, and makes it difficult to answer the question: what price is luxury wine?
This week on Grape Encounters, David visits with Dr. Liz Thach, MW of Sonoma State University who, along with other prominent researchers examined the definition of luxury, analyzed current pricing structures and proposed a new luxury wine price continuum in a brand new research study.
What are the variables that make a wine “luxury?” David gets to the heart of the matter with Dr. Thach.
Then, Winemaker Nathan Cardella joins David in the studio to discuss how winemakers set their prices. Is it arbitrary? Is it what the market will bear? More importantly, are most wines priced fairly? Nathan shares and tells all in this frank discussion on Grape Encounters Radio!
To play the media you will need to either update your browser to a recent version or update your Flash plugin.