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Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?

The COVID‐19 crisis has severely impacted the wine industry, with producers in different countries affected differently and, therefore, differing in their perceptions toward it. These differing perceptions are assumed to be due to different business models, mainly linked to the distribution system a...

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Autores principales: Niklas, Britta, Cardebat, Jean‐Marie, Back, Robin M., Gaeta, Davide, Pinilla, Vicente, Rebelo, João, Jara‐Rojas, Roberto, Schamel, Guenter
Formato: Online Artículo Texto
Lenguaje:English
Publicado: John Wiley and Sons Inc. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9347547/
https://www.ncbi.nlm.nih.gov/pubmed/35935108
http://dx.doi.org/10.1002/agr.21748
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author Niklas, Britta
Cardebat, Jean‐Marie
Back, Robin M.
Gaeta, Davide
Pinilla, Vicente
Rebelo, João
Jara‐Rojas, Roberto
Schamel, Guenter
author_facet Niklas, Britta
Cardebat, Jean‐Marie
Back, Robin M.
Gaeta, Davide
Pinilla, Vicente
Rebelo, João
Jara‐Rojas, Roberto
Schamel, Guenter
author_sort Niklas, Britta
collection PubMed
description The COVID‐19 crisis has severely impacted the wine industry, with producers in different countries affected differently and, therefore, differing in their perceptions toward it. These differing perceptions are assumed to be due to different business models, mainly linked to the distribution system adopted and resulting in varying distances of producers to distributors and consumers. While upstream integration characterizes the Old World, the New World applies a downstream business model, being more closely linked to distributors and consumers and, therefore, more vulnerable to shocks, which should lead to higher perceived impacts of the COVID‐19 crisis. This study analyzes 542 surveys collected from wineries in nine countries, divided into New World, historical Old World, and emerging Old World. Econometric results show statistically significant differences in both the perceived impact of COVID‐19 and wineries' responses in terms of planned investments, with the New World being more affected. A common desire by wineries to direct future investments towards direct‐to‐consumer sales and communication was found, to the detriment of investments in vineyards and cellars. This desire is particularly strong in the New World, in line with their focus on the downstream part of the value chain, underlying their greater reactivity to shocks and capacity to innovate. [EconLit Citations: D22; L21; L66; Q13].
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spelling pubmed-93475472022-08-03 Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference? Niklas, Britta Cardebat, Jean‐Marie Back, Robin M. Gaeta, Davide Pinilla, Vicente Rebelo, João Jara‐Rojas, Roberto Schamel, Guenter Agribusiness (N Y N Y) Research Articles The COVID‐19 crisis has severely impacted the wine industry, with producers in different countries affected differently and, therefore, differing in their perceptions toward it. These differing perceptions are assumed to be due to different business models, mainly linked to the distribution system adopted and resulting in varying distances of producers to distributors and consumers. While upstream integration characterizes the Old World, the New World applies a downstream business model, being more closely linked to distributors and consumers and, therefore, more vulnerable to shocks, which should lead to higher perceived impacts of the COVID‐19 crisis. This study analyzes 542 surveys collected from wineries in nine countries, divided into New World, historical Old World, and emerging Old World. Econometric results show statistically significant differences in both the perceived impact of COVID‐19 and wineries' responses in terms of planned investments, with the New World being more affected. A common desire by wineries to direct future investments towards direct‐to‐consumer sales and communication was found, to the detriment of investments in vineyards and cellars. This desire is particularly strong in the New World, in line with their focus on the downstream part of the value chain, underlying their greater reactivity to shocks and capacity to innovate. [EconLit Citations: D22; L21; L66; Q13]. John Wiley and Sons Inc. 2022-05-25 /pmc/articles/PMC9347547/ /pubmed/35935108 http://dx.doi.org/10.1002/agr.21748 Text en © 2022 The Authors. Agribusiness published by Wiley Periodicals LLC. https://creativecommons.org/licenses/by-nc-nd/4.0/This is an open access article under the terms of the http://creativecommons.org/licenses/by-nc-nd/4.0/ (https://creativecommons.org/licenses/by-nc-nd/4.0/) License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non‐commercial and no modifications or adaptations are made.
spellingShingle Research Articles
Niklas, Britta
Cardebat, Jean‐Marie
Back, Robin M.
Gaeta, Davide
Pinilla, Vicente
Rebelo, João
Jara‐Rojas, Roberto
Schamel, Guenter
Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?
title Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?
title_full Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?
title_fullStr Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?
title_full_unstemmed Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?
title_short Wine industry perceptions and reactions to the COVID‐19 crisis in the Old and New Worlds: Do business models make a difference?
title_sort wine industry perceptions and reactions to the covid‐19 crisis in the old and new worlds: do business models make a difference?
topic Research Articles
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9347547/
https://www.ncbi.nlm.nih.gov/pubmed/35935108
http://dx.doi.org/10.1002/agr.21748
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