Many people mentioned China's wine market in the blog recently. It reminds me of the documentary "Red Obsession", which has many insights and insider stories depicting the interesting wine customer behaviors in China.
Movie website: http://www.red-obsession.com/
Youtube link: https://www.youtube.com/watch?
Rotten Tomatoes: http://www.rottentomatoes.com/
With the fierce purchasing power of its elite class, China has become the biggest importer of wines from the Bordeaux region of France. “Will the China market be the bubble that never bursts or the biggest threat yet to Bordeaux's centuries old reputation?”
To examine and present the chain effects behind, the documentary Red Obsession takes the audience on a journey from Bordeaux to China, where winemakers, wine critics and wine lovers, are interviewed. The featured Chinese wine enthusiasts — including Peter Tseng and Kelly Cheng, who, tired to bid at a 2011 auction, more than doubled the last offer and paid 1.5 million Hong Kong dollars (close to $200,000) for a Lafite — relish the role of collector, if only as a symbol of their success. These carefully selected shocking samples demonstrate the typical motivation of luxury consumption among the Chinese new money.
However, we should also be aware of that, this movie was issued by late 2013, since after China’s wine fever has somewhat evolved to a new landscape. The ultra prestige wine consumption has declined dramatically due to the anti-corruption & anti-extravagancy policy that had been rolled out from top to bottom across the nation. Meanwhile the rise of the new middle class (generations that was born in 1970s and 1980s) drives the new trend of wine consumption into a more rational and maturing direction. I believe the volume of the wine total consumption in China will continuously grow, into a more diversified daily-based drinking repertoire, the old world legend is coming to lapse.
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