Virtual vintners toppling wine importers in China
Increasingly price-savvy shoppers are driving a boom in online trade
Hunter Valley, Australia
WU Zhendong sees himself as something of a wine buff. The 25-year-old lawyer from China's western city of Chengdu is a member of his local wine club, likes to drink Chateauneuf-du-Pape - and now, like many of his peers, buys most of his wine online.
Mr Wu reflects a major shift in China's US$14.2 billion wine market, where increasingly price-savvy shoppers are driving a boom in online trade, upending the fast-growing market that has long been dominated by large-scale importers.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
EU toughens rules on Chinese fashion retailer Shein
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand