History does repeat itself.
It is Wine Future Hong Kong 2011. And thus far I feel like I’m back at the disappointing Wine Future 2009. Did we learn anything on day one? Well, I had hoped so but like 2009, my expectations – and others’ – weren’t met.
The first panel, ‘Wine economics and wine investments’ aimed to address ‘the current state of the world economy and how it effects different sectors of the wine industry, how currency exchange rates impact exports, how wine auctions function, and which successes can act as barometers for the future.’ Sounds good, I thought.
Well, after four ten minute speeches by Jose Manuel Ortega Gil Fournier, Christie’s head China Simon Tam, John Kapon, CEO of Acker Merrill Condit and James Miles of liv-ex, I am none the wiser.
We were looking for fresh insights and in depth wine information. We know French wines dominate the investment market and that the liv-ex index has risen significantly in the past 10 years. Tell us something new – and interesting. Surely it would have been better to have had some economists from Rabobank or consultants giving us impartial information?
On to ‘the new world approach’ panel which sought to explain the most important challenges that new world countries are facing in today’s marketplace as well as analyze several new world wine regions’ successes and their strategies forward’. Those invited to speak – Chile’s Cristian Lopez, Wines of South Africa’s Su Birch and Wine of Argentina’s Alberto Arizu took the stand.
All delegates are now experts on South African wines’ sustainability programme, integrity seal, growth in wine tourism, and its wine trade show in 2012; we know about Argentina’s passion for tango and football; and apparently Chile has ‘unique climate conditions’ for growing grapes. What about the most important challenges facing new world countries today? Come on guys, that’s what we want to know about.
Most of the delegates in the room are pretty savvy about wine, working in the industry every day and, we are here to learn. The Austrian wine brand owner sitting next to me, complained ‘I’m so disappointed, it’s a waste of time.’ The only thing she has taken of benefit from today’s seminars is a photo with Francis Ford Coppola. One for the album. Unfortunately her notebook is still empty.
Luckily there were some rays of light. The ‘new media, new consumer’ panel actually looked at the new media, the new consumer and considered the future…what are consumers buying and where are they buying from – will they start going from liking a wine on facebook to buying it? Voucher offers to your smartphone and so on. Ironically, it was all old media types on the panel talking about new media rather than new media experts. And only the UK and US were represented, which doesn’t really represent the world, does it?
Onwards and upwards, let’s hope tomorrow brings some useful insight. Tomorrow will certainly bring the future.
