Australian wine company plans to expand in Chinese market
China DailyGuests attend a promotional event held by Penfolds in Beijing in early August 2024. Driven by a burgeoning middle-income earner group and a rising demand for wine, whisky and coffee in China, as well as improved China-Australia economic and trade ties, the Australian company will continue to expand its sales networks in online channels, top and second-tier cities to seize more market share within the country. "Attracting young consumers, conducting cross-industry marketing strategies and developing business on digital sales platforms will be our priorities to grow in China over the next three years," said Wu, adding that wine culture, education and brand awareness are still the key factors in expanding the presence of the company's wine in the country. In addition to markets in China's Yangtze River Delta region and Pearl River Delta region, Wu noted that Shandong and Sichuan provinces have also emerged as major markets for the company's products. Highlighting that Chinese wine is gaining recognition and popularity among an ever-growing number of domestic consumers, Guo Xin, a marketing professor at Beijing Technology and Business University, said that more global winemakers are eager to explore Chinese market and build partnerships with local companies to seek fresh growth points.