Hong Kongers spend HK$5k a year on wine1st October, 2013 by Livia Xin
Hong Kong residents are likely to spend more than HK$5,000 annually on wine, according to a new survey by the Hong Kong International Wine & Spirit Competition.
The survey, which was conducted in August and September this year with 508 participants aged 18 or older, is designed to understand the current drinking habits and wine purchase patterns in Hong Kong.
The findings showed that 51% of respondents enjoy wine several times a week, while over 20% drink wine everyday. While 15% of survey respondents spend HK$3,000-$5,000 (£240-£300) every year on wine, more than half spend over HK$5,000, reflecting the growing popularity of high quality wine consumption in Hong Kong.
Breaking this spend down further, 33% reported spending HK$201-$350 (£16-£28) each time they visit a wine store, while 22% spend as much as HK$351-$500 (£28-£40). Once in a restaurant, survey respondents said they were willing to spend 30% more than in the off-trade.
The survey also found that Hong Kong people are fastidious regarding the quality of their wine and often seek professional advice when purchasing: 68% buy from a wine merchant – four times more than the number who primarily buy their wine at a supermarket. A similar proportion, 67%, base their wine choice on suggestions from family or friends.
Commenting on the survey’s findings, Debra Meiburg MW, director of HKIWSC, pointed out: “The newly-affluent middle class is choosing premium quality wines, tastes have become more discerning and the average spending on wine is increasing, creating a huge potential in the market for quality wines.”