SVB2022年直销葡萄酒调查报告

20227/25 20227/25 新建文本文档Hmlfile:///F:/file:///F:/桌面/报告审核/新建文本文档Hml #/30WineriesThatAreWalk-Invs.By-Appointment££<D.EMJo)u8』(Dd££<D.EMJo)u8』(DdSonomaandNapaweretheonlyregionsusingby-appointmentofferingstoanysignificantdegreein2018.By2020regionalhealthmandatesrequiredbyappointmentofferingsandthatmodelexplodedfromonly17%to41%.Withbusinessreopening,winerieswhoweren'tforcedintoofferingtheby-appointmenttastingshaven'tchangedtheirmodel.Whiletherestofthewineriessettledintoeitheramixedmodelorstrictlybyappointmentofferings.Manywinerieshaveexpressedmultiplebenefitsofbyappointmentsofferings.Theindustrylikelywon'treturntowalk-in.svb>SILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS 22Walk-InWineriesWithBy-Appointmentvs.Walk-InOfferingsbyRegionWalk-InBy-Appointment73.3%2021^^^^WashingtonofCalifornia^^^»SantaBarbara26.7%20.7%9.6%A6.7%201720182020WashingtonofCalifornia«^^»SantaBarbara20.7%14.7%ofUSOregon^^^^SonomaCounty^^^RestofUSOregon^^^^SonomaCountyCountyNapaCountyCountyBoth0%20172017^^^•Washington2018 2020 2021v^^RestofCalifornia^M^^SantaBarbara^^^RestofUS«^»Oregon^^^^SonomaCountyNapaCountySILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS 23NapaCountySILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS 23svb>AverageMonthlyVisitorsbyRegions』0*.<2>M-0」wqEnN3,0002.5002,0001.5001,0005001,5941,171f^57iCOVID-19restrictionsin2020madeforsignificantreductionsinthenumberoftastingroomvisitorsinallregionswiththeexceptionofSantaBarbara.In2021,theaveragemonthlyincreasewas211%,higherthan2020yetstillbelowtherecord2018visitationaverage.Themovetotheby-appointmentmodelisreducingvisitation.OregonNapaCountySonomaCountyWashing!onPasoRoblesAverageSantaBarbaraNewYorkVirginia■20167101,0931,0396181,2721,1147922,0512,036■20177129441,0048081,1111,1588651,1221,4821,464■20188971,0441,0989421s4021,5207812,729■2020588484523331774596880InsufficientResponses■20217638018118471,1711,2571,5942,0702,219SILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS 24TastingRoomPurchasebyRegion$400$377.87cc3csra$400$377.87cc3csra■2016H2017H201812020B2021(DSEqendEWhenconsumerslostmanyoftheirtypicalpastimesin2020,suchassports,movies,travel,anddiningout,theyfoundpleasureingoingtorestrictedbutopentastingrooms.TheaveragepurchasepervisitwashigherduringtheCOVID-restrictedperiod,andslightlyhigherin2021thanpre-COVIDtoo.Mostregionsheldtheirpurchaseincreasesin2021whileNapaandSonomadrovemateriallyhigherchecks.svb>SILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS 26TastingRoomPurchasebyCaseProduction$250$224.54$200$171.9$150$100$50ilia$194.63$155.17.. $123.93$179-59$158.43$138.221-2,5002,501-5,0005,001・10,00010,001-25,00025,001-50,00050,001-100,000100,001・250,000>250,000■2016$109.99$175.53$118.28$110.52$104.65$93.47$83.85$58.78■2017$177.19$195.23$177.94$137.23$103.27$101.51$92.08$67.23■2018$142.95$186.04$137.74$142.21$107.95$112.18$85.45$82.95■2020$190.50$220.92$197.26$142.95$152.68$158.89$132.42$97.93■2021$171.96$224.54$194.63$155.17$123.93$179.59$158.43$138.22CasesProducedAnnuallyIn2021,winerieswithproductiongreaterthan50,000caseshadincreasesinaveragetastingroompurchases,whilewineriesproducingbelowthatsawsmalleraveragetickets.Largerwineriesareincreasinglytryingtofindpathstosellusingdirecttoconsumermeans.Whilerepresentingasmallamountinvolumeinrelativetermsforproductionsizedwineries,themarginincreaseandbrandenhancementmakeitvaluableforallsizesofwineries.■2016 H2017 ・2018 2020 H2021SILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS 27■2016H2017B2018 2020H2021■2016H2017B2018 2020H2021svb>Excludeswinerieswithlessthanfiveyearsexperience.SILICONVALLEYBANK2022DIRECT-TO-CONSUMERSURVEYREPORTANDBENCHMARKS28ChangeinDirect-to-ConsumerCasesSoldandDollarSalesbyRegionSince2020,purchasegrowthbydollarvaluehasexceededgrowthinvolume.Consumershavebeenspendingmoremoneyonbetterbottlesandmovingawayfromwineunder$11.Forpremiumproducers,manyofwhomsufferedfromfireanddrought,sellinglessformoreisagoodoutcome.Thequestionweneedtoaskis,willthisremainasustainabletrend?

WineClubStructure,ConversionandGrowthWineClubStructure,ConversionandGrowthWineClubGrowthandAttritionRatesNewWineClubMemberGrowthRate*WineClubAttritionRate**svb>NewWineClubMemberGrowthRate*WineClubAttritionRate**svb>It'susefultolookatthegrowthinnewclubmembersalongwithattritionratherthannetgrowth.It'sfarmoreprofitabletogrowby5%andlose5%foranetzero,thangrow20%andlose20%.Whilewineriesinallregionsareaddingnewclubmembersmorequicklythantheyarelosingthem,therateofchurnisuncomfortablyhigh.,NewWineClubMemberGrowthRate■Newwineclubmembersacquired,dividedbystartingn