A major shift is occurring in Beijing's $14.2bn wine market as consumers opt to buy cheaper wines online, upending the traditionally-dominant large-scale importers. Online giants, JD.com and Alibaba's Tmall, have moved into the market, selling a combined 45m bottles of wine last year forcing traditional importers to re-think their strategies to compete with lower-cost, local, and smaller firms. The shift in preference to cheaper wines is said to be linked to China's crackdown on ostentatious spending and corruption.
A major shift is occurring in China's $14.2bn wine market as consumers opt to buy cheaper wines online, upending the traditionally-dominant large-scale importers. Online giants, JD.com and Alibaba's Tmall, have moved into the market, selling a combined 45m bottles of wine last year forcing traditional importers to re-think their strategies to compete with lower-cost, local, and smaller firms. The shift in preference to cheaper wines is said to be linked to Beijing's crackdown on ostentatious spending and corruption.