This paper aims to investigate the wine consumption among young people belonging to the so-called millennial generation
This study uses a questionnaire and a choice experiment (CE) with a multinomial logit model (MNL), implementing a random parameter logit model (RPL), to investigate the attitudes of millennials towards wine consumption, their purchasing behaviours and their willingness to pay for attributes of the products; in particular regarding the follwing: region of origin, “winescape”, certification, carbon footprint claim and price.
Millennials appear to drink wine less frequently; they consume it more often in social on-premise settings, having a slightly higher willingness to pay and preferring carbon-neutral brands when choosing wine.
The limitation of this research was the analysis of a simulated situation where consumers declared their intention to purchase and not the effective purchase behaviour in the market.Further research should investigate wider millennials groups, also using the new media communication tools that characterise the communication behaviour of Generation Y. In this way, it would be possible to interview a millennial group at the national or international level.
The research identifies some characteristics of millennials’ habits that can take into account the strategies of wine companies in order to develop a constructive relationship with Generation Y in Italy.
This research contributes to knowledge regarding the wine consumption habits of Italian millennials.
This paper applies discrete choice models to consumption situations in order to analyse millennials' preference and their willingness to pay for some innovative attributes of wine, in particular the carbon footprint.
