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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...
Autores principales: | , , , , , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
John Wiley and Sons Inc.
2022
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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]. |
format | Online Article Text |
id | pubmed-9347547 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | John Wiley and Sons Inc. |
record_format | MEDLINE/PubMed |
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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