Looking at the evolution of international wine trade over the last five years, the reduced growth rate and the varied performance of suppliers raise many research questions, at the micro- and macro-level. At the micro-level, research needs emerge regarding understanding consumer preferences, using innovative integrated approaches, and the exploitation of new paradigms concerning marketing strategies. At the macro-level, the key question concerns the possible evolution of international wine trade over the next 5-6 years, and the related consequences on the industry structure. Forecast of the future evolution of wine market is challenging and risky in a context dominated by discontinuities and there is not much research on how markets evolve. Nevertheless, wine economists should attend to this task with a wide multidisciplinary set of tools, also if imply an effort which is demanding and with uncertain results.
Experimental economics International wine trade Marketing strategy Prospect theory