Treasury Wine Estates launches Millennial-focused brand
Treasury Wine Estates (TWE) launched Samuel Wynn & Co, a wine brand specifically designed to target Millennials. The generation born between 1980 and 2000 has changed the market’s dynamics, giving a great importance to experience and company values, and have great influence in other generations through digital media.
According to research conducted by the TWE, Millennials are the second largest consumers of wine. The first products released by Samuel Wynn & Co are red wines, The Man from Nowhere Shiraz 2016 and Last Rites Cabernet Sauvignon 2016, while other varietals will be released next year.
The importance given by Millennials to experience led the company to find a story to focus its brand, which is inspired in the adventurous life of Samuel Wynn, a wine industry legend in Australia who travelled as a wine merchant and explored new territories for sourcing, selecting and celebrating wines. In line with the adventurous spirit, TWE will have a consumer promotion at the end of 2017 which will send three customers on an adventure of a lifetime.
Angus McPherson, TWE’s managing director for Australia & New Zealand, says, “The key to maintaining momentum with Millennials is to think beyond traditional wine norms and make wine engaging and enjoyable. It’s simplistic to think that there’s a ‘one-size-fits-all’ approach to Millennials and we will continue to innovate in order to drive category and business growth.”
Millennials are characterised for being digital natives and therefore very active in social networks, not only as users but also as content creators. Although they are not keen on buying goods, they are consumers of services that provide access to products, which has favoured the boom of the "sharing economy". Millennials’ large participation has changed the retail market with their products reviews and prices comparisons. This added to the importance given to lifestyle and experience has made companies rethink their offer to this sector of the population.