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
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife served letter of demand, notice of claim from customers