硅谷银行-2025年直接面向消费者的葡萄酒报告（英）

2025 Direct-to-Consumer Wine ReportAuthor: Rob McMillan, EVP & Founder, Wine DivisionProject manager: Stef Solaire, Credit AnalystProject analyst: Carla Schwellnus, Credit AnalystProject analyst: Elizabeth Allen, Sales Support Specialist1Introduction42Success Guide and Strategies63Direct-to-Consumer Channel124DtC and Tasting Room Observations and Strategy195Walk-in vs Reservations: Rural vs Urban326Tasting Fees387DtC in the Context of Industry Evolution508Wine Club Structure, Conversion and Growth60Contents2025 DIRECT-TO-CONSUMER WINE REPORT2Rob McMillanEVP & Founder, SVB Wine Divisionrmcmillan@svb.com Rob McMillan is one of the top wine-business analysts in the United States and the author of Silicon Valley Bank’s highly regarded annual State of the Wine Industry Report, described by The New York Times as “probably the most influential analysis of its kind.”With Rob’s decades of experience researching the industry and working with winery clients, his views are sought after and trusted by winery owners, journalists, entrepreneurs and investors. He is a prominent speaker, domestically and internationally, and you will find him extensively quoted in the national, regional and trade press. ForwardThere is plenty of disappointing news to go around, but despite metrics to the contrary, I see something positive. What I’m referring to isn’t misplaced hope or positioning the glass as 30% full. There is tangible evidence that we’re moving forward through this cycle and taking active steps to improve business conditions. In addition, this report calls out the success smaller wineries are having negotiating change.While there is progress and we discuss some instances of success within, we aren’t done with this cycle just yet. But we are progressing through the stages needed to get there, accepting some harsh realities and implementing tactics to improve performance –all signs of real progress. Early on, as SVB started to digest the data and acknowledge the signs pointing to oncoming difficulties, several fellow analysts and I noted that the disappointing news wasn’t affecting all producers. About one-third of the wine industry was still growing and doing well, while two-thirds were not.Looking at the current metrics, I think that narrative is shifting in a positive way. Roughly the same number of wineries are growing as wineries shrinking now, while an increasing percentage are showing flat sales growth, which for most is an improvement. I think these developments are driven by the wineries' actively evolving strategies. Another piece of good news is the positive momentum of the Direct-to-Consumer (DtC) model, an option that is particularly important at this time given RNDC's decision to exit California. The DtC model has developed into the sales tool it is today because the wholesale channel became more selective with representing small clients. Today the average winery sells 70% of its production direct and does so with greater control over their brand an