Source: http://www.ctvnews.ca/canada/wine-gaining-ground-with-canadian-drinkers-report-suggests-1.1016819
Report suggests that Wine consumption has increased in the past years. This creates great opportunity for the existing and potential wine producers. On the other hand, the beer producers are threatened by this change in taste.
The main reason for this change seems to be the increase in age of the population. Due to the improvement on medication and technology, people live longer. Also, the younger generations are likely to have less kids. These two factors increase the age of Canadian population. Wine, as contrast to beer, is more liked by the elders.
The increase in age of the population is an opportunity for the current existing wine producing companies. It creates more room for growth. The market is also open to new businesses to increase the production of wine. The wine businesses should get hold of this opportunity and gain greater market share.
Change in taste of costumers is not always as threat to the beer producers. The beer producing companies should work to attract the consumers’ attention in a different way. They should make their product more associated with higher standard of living, and less towards the general young, energetic, and risk-taking image of beers.
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