Why is old world wine dropping down in uk Essay - 3

Why is old world wine dropping down in uk - Essay Example During the same period the author find that the New World wine has grown by 3.4%, whereas Old World wine has lost the market share by around 2%. xliv The wine market in UK has been the central hub of wine collection from all over the world. Until recently the Old World economies have been leading in the UK wine market for supplying the classic wines. However, with the emergence of the New World wine producers offering a huge array of wine to choose from along with aggressive promotional strategies have overpoweringly grabbed the market from the hands of the Old World wine manufacturers. The Old World countries like France which used to enjoy monopoly for decades in exporting its tradition-rich wines to the UK markets are now being dominated by the New World economies like Australia with incredible marketing techniques. Factors like poor branding, restricted labelling, inconsistent quality and inept promotional strategy have together led to the decline of the Old World wine producers in the UK wine market. To combat this severe threat an intensive reviewing of attitudes towards brands is exactly what is required for the Old World wine producers to recapture the wine market in UK from the hands of the New Wold wine manufacturers. Understanding the consumers’ needs in today’s modern wine market, adopting clear labelling, recognizing the increasingly stylish wine supply chain, filling the huge information gaps is exactly what is required from the manufacturers of Old World wines. Hence, it is only through the union of innumerable small Old World wine producers reviewing their entire branding strategy that the possibility of their sustainability in the UK wine market prevails. Various European wine producing economies are undergoing tough times in UK wine market (Harrop, 2006). France, Spain, Italy and Portugal, the leading wine producers of the world are gradually losing their