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With the rise in wine consumption, accurate wine price forecasts have significantly impacted restaurant and hotel purchasing decisions and inventory management. This study aims to develop a precise and effective wine price point and interval forecasting model.

The proposed forecast model uses an improved hybrid kernel extreme learning machine with an attention mechanism and a multi-objective swarm intelligent optimization algorithm to produce more accurate price estimates. To the best of the authors’ knowledge, this is the first attempt at applying artificial intelligence techniques to improve wine price prediction. Additionally, an effective method for predicting price intervals was constructed by leveraging the characteristics of the error distribution. This approach facilitates quantifying the uncertainty of wine price fluctuations, thus rendering decision-making by relevant practitioners more reliable and controllable.

The empirical findings indicated that the proposed forecast model provides accurate wine price predictions and reliable uncertainty analysis results. Compared with the benchmark models, the proposed model exhibited superiority in both one-step- and multi-step-ahead forecasts. Meanwhile, the model provides new evidence from artificial intelligence to explain wine prices and understand their driving factors.

This study is a pioneering attempt to evaluate the applicability and effectiveness of advanced artificial intelligence techniques in wine price forecasts. The proposed forecast model not only provides useful options for wine price forecasting but also introduces an innovative addition to existing forecasting research methods and literature.

The climate in Mendoza is significantly different from the climate in most global wine-making regions. This paper aims to explore the relationship between the quality of the Malbec wine from the Mendoza region and its weather.

This study uses a multivariate regression model with fixed effects to assess how weather variations relate to wine quality. The Wine Spectator ratings are used as a measure of wine quality and to build a longitudinal data set of Malbec wine ratings from 1995 to 2020. The weather is described with several variables based on temperature, rainfall, humidity and cloudiness data from the Mendoza region. The model controls for wineries which are treated as fixed effects.

The results of this study indicate that the weather has a modest explanatory power when it comes to the quality of Mendoza’s Malbec. Additionally, the analyses show that the wineries are more important than the weather to explain quality differences in the wines. These findings are in agreement with previous studies carried out in regions with stable weather such as California and Australia.

The quality of Mendoza’s Malbec depends more on the winery of origin than the year-to-year weather variations. Therefore, consumers should focus more on the winery and less on the vintage when making purchasing decisions. Additionally, given the relevance of the winery in relation to quality, the findings of this study indicate that future research efforts should focus on directly linking the wine ratings to quality-drivers behind the winery effects.

To the best of the authors’ knowledge, this is the first study that explores the relationship between wine quality assessed through wine ratings and the weather in the Mendoza (Argentina) region. Most such studies have been done in connection with northern hemisphere wines.

Exploring the determinants of a winery brand reputation (BR) and how those determinants interact is vital for the sustainable development of wineries as well as the growth of the wine industry as a whole. This study aims to test an integrated model to better understand the observed measurement constructs of winery brand reputation, including collective reputation (CR), wine label (WL), expert opinion (EO), social media advertising (SMA) and consumer wine knowledge (CWK).

In-depth interviews, an expert panel review and a pilot study were conducted to examine and improve the observed variables. A questionnaire survey was conducted as the main data source for the study. A total of 616 valid questionnaire responses were collected from 102 cities in mainland China and Hong Kong, Macao and Taiwan from December 2021 to April 2022. Structural equation modeling was conducted for the data analysis.

This study supported 9 of the 18 proposed theoretical hypotheses. WL, EO and SMA had positive effects on BR. CWK was found to have a moderating effect on the relationship between expert opinions/social media advertising and brand reputation.

The results of this study can guide wine practitioners, researchers and administrators in brand development, label regulation and consumer education.

To the best of the authors’ knowledge, this is the first attempt to examine the determinants of winery brand reputation among Chinese wine consumers. This study explains the mechanism of winery brand reputation, demonstrating the dynamics and effects of the observed measurement constructs on brand reputation.

This study aims to identify the economic impact of a potential implementation of a Climatic Reserve for the Swiss predominant white grape variety (Chasselas) vinified in the AOC (controlled designation of origin) category. The Climatic Reserve would imply the possibility of harvesting an additional quantity of grapes whose commercialization in wine would be delayed until it is approved by the relevant authority.

The impact of a potential implementation of this wine supply management tool is simulated through an innovative method that combines the vector autoregressive (VAR) model to estimate the influence of the previous consumptions and productions on the current consumption and linear regression [ordinary least square (OLS) method] to estimate the price elasticity to measure the evolution of the price depending on the simulated consumption. The VAR model is based on state-level data about production, stocks, and consumption (all the channels of distribution combined), while the OLS regression for estimating price elasticity uses the retail market data (Nielsen Panel). With the sales and price variables on a monthly frequency design, the latter represents about 40% of the wine market in Switzerland.

According to simulations carried out at the level of a region from the canton of Vaud in Switzerland (2000–2018), the increase in turnover linked to the release of the Climatic Reserve would be +3.1% for the indigenous white grape variety Chasselas.

The Climatic Reserve is a wine supply management tool that could complement the existing yield restriction, which does not significantly influence the quantities sold, according to previous studies. Our paper contributes to the literature by demonstrating the economic advantage of this supply management tool to deal with the increasingly frequent climatic hazards in wine production and market. The methodology could be applied to other wine regions (contexts) or other agricultural sectors.

The brand identity–image gap is a well-known marketing field. However, very little academic work has been done within the wine industry regarding collective brands. With the aim of filling this gap, this paper analyzes and describes the relationship between identity and the image of Bordeaux wines. It is intended as a collective wine brand.

From a positivist–functionalist perspective, a 45-question survey has been administered online to N = 53 internal brand operators (winery owners or managers) and to N = 655 external consumers (mainly focusing on 18–25 year-old segment). Nonprobabilistic sampling techniques have been used. Questions were structured within a semantic opposition.

Data analysis has shown that the nine-dimension model (physical, personality, culture, self-image, reflection, relationship, positioning, vision and heritage) is capable of collecting a richer and more pertinent set of information concerning the brand identity; statistically significant gaps have been found in 25 out of 45 items; counterintuitively, the consumers have a very different opinion about the brand compared with existing ideas. Direct implications are that internal brand operators may suffer from imposter syndrome; information asymmetry may play a central role in brand perception; and the brand lacks symbolic and inspirational functions.

Providing an original model to analyze and evaluate the brand identity–image gap, specifically adapted for collective wine brands, this work contributes to the literature by increasing the knowledge about brand identity issues.

The purpose of this study is to evaluate whether a diversification by grape varieties may help wine producers reduce uncertainty in quantity and quality variations due to increasingly erratic climate conditions.

This study hand-collects granular quantity and quality data from wine harvest reports for vintages 2003 to 2017 for the Valais region in Switzerland. The data allows us to obtain detailed data on harvested kilograms/liters and Oechsle/Brix degrees. It is then merged with precise meteorological data over the same sample period. The authors use this data set to capture weather conditions and their impact on harvested quantities and quality. Finally, they build portfolios including different grape varieties to evaluate whether this reduces variations in quality and quantity over vintages.

The findings highlight that the weather varies relatively strongly over the sample period and that climate hazards such as hail, frost or ensuing vine diseases effectively occur. These strongly impact the harvested quantities but less the quality of the wine. The authors further show that planting different grape varieties allows for a significant reduction in the variation of harvested quantities over time and thus acts as a good solution against climate risk.

The effect of climate change on viticulture is becoming increasingly important and felt and bears real economic and social consequences. This study transposes portfolio diversification which is central to reducing risk in the finance industry, into the wine industry and shows that the same principle holds. The authors thus propose a novel idea on how to mitigate climate risk.

With the ongoing industrial transformation of the Japanese sake industry and the continuous growth of exports in recent years, terroir, one of the core concepts in the wine culture, has been strategically used in the sake industry. Therefore, as an essential investigation, the purpose of this study is to elucidate when, how and why terroir has been used in the sake industry. This study starts with the research question: When, how and why has terroir come to be used strategically in the sake industry?

This study investigates the use of terroir in the Japanese sake industry, examining all 196 newspapers that referenced terroir from 1998 to 2022, sourced from the renowned newspaper database Nikkei Telecom 21. This study’s outcomes have been visualized through categorization work and text mining.

In this study, the use of terroir in the Japanese sake industry has gained significant momentum since 2015, with a remarkable surge observed in the 2020s. With the continuous growth in sake exports, industry players such as sake brewers are strategically structuring terroir to reinforce the authenticity of the brewing process, emphasizing the uniqueness of natural elements, such as water, sake rice and the natural environment. These findings highlight the critical role of terroir in the Japanese sake industry’s added value expansion.

This study provides objective insights regarding the recent industrial transformation for the practical sake industry, such as sake exporters and distributors. Additionally, this study enables the wine industry’s audience to understand the sake industry’s evolution in terms of wine culture.

This study aims to provide a comprehensive overview of the academic landscape in wine economics and business research over the past decades, capturing and analysing the literature through rigorous bibliometric methodologies. The study is intended as a foundational resource for academics, policymakers and industry stakeholders interested in the evolving scholarly discourse within the wine industry.

The authors analyse data from over 3,200 papers in the field of wine economics and business published between 1990 and 2022, sourced from Scopus. Various bibliometric indicators are applied, including publication and citation counts, and methods like keyword and co-citation analyses were used to map out the thematic and intellectual landscape.

The study reveals the escalating global relevance of wine economics and business research and identifies prominent papers and authors, influential countries and leading journals. The analysis reveals a dynamic shift in academic focus. Initially concentrating on foundational inquiries in the 1990s, research evolved to encompass complex themes such as e-commerce, wine tourism, sustainability and global crises. The study emphasises the adaptability and resilience of the wine supply chain and anticipates future research areas.

This study presents a comprehensive bibliometric analysis of the expanding body of research in wine economics and business, using data from over 3,200 documents published between 1990 and 2022. It uniquely combines different advanced bibliometric tools to provide a multifaceted overview of wine economics and business research.

The purpose of the study is to investigate the impact of implementing anti-dumping duties on imported Australian wine to China in the short- and long-run, respectively.

First, the Difference-in-Differences (DID) method is used in this study to evaluate the short-run causal effect of implementing anti-dumping duties on imported Australian wine to China. Second, a Bayesian ensemble method is used to predict 2023–2025 wine exports from Australia to China. The disparity between the forecasts and counterfactual prediction which assumes no anti-dumping duties represents the accumulated impact of the anti-dumping duties in the long run.

The anti-dumping duties resulted in a significant decline in red and rose, white and sparkling wine exports to China by 92.59%, 99.06% and 90.06%, respectively, in 2021. In the long run, wine exports to China are projected to continue this downward trend, with an average annual growth rate of −21.92%, −38.90% and −9.54% for the three types of wine, respectively. In contrast, the counterfactual prediction indicates an increase of 3.20%, 20.37% and 4.55% for the respective categories. Consequently, the policy intervention is expected to result in a decrease of 96.11%, 93.15% and 84.11% in red and rose, white and sparkling wine exports to China from 2021 to 2025.

The originality of this study lies in the creation of an economic paradigm for assessing policy impacts within the realm of wine economics. Methodologically, it also represents the pioneering application of the DID and Bayesian ensemble forecasting methods within the field of wine economics.

The purpose of this study is to assess the presence of deceptive advertising practices in wine retailers’ e-mails and, if identified, to analyze the extent and content of these deceptive advertisements.

The study follows an observational research design to examine the accuracy of two claims that were made in 258 marketing e-mails from two major wine retailers in New Jersey, USA: (1) that all wines have 90+ scores; and (2) that these wines are offered at a deeply discounted price.

The study found that only 3.9% of cases accurately supported both major claims made: the wines having 90+ scores and being offered at a discounted price. Both claims were inaccurate in 64.7% of cases. Nearly half (49.3%) of the advertised wines had concealed critic’s scores below 90 points. Recipients were told they could save 37.2% by purchasing from the advertising retailer, but they could have actually saved 12.7% more by buying the wines elsewhere.

The study’s limitations include the small sample size. Variations between different wine retailers and their advertising practices require further investigation.

Advertised discounts and scores may be inaccurate or incomplete, causing consumer confusion and disappointment, erosion of wine advertisements’ as well as wine retailers’ and wine experts’ credibility.

Deceptive advertising can erode consumer trust and lead to unfair practices. Consumers may make purchasing decisions based on misleading information. Deceptive practices create an uneven playing field, giving businesses that engage in them an unfair advantage, hindering market transparency and ethical businesses. Policymakers should develop regulations to protect consumers and ensure fair competition.

An investigation of deceptive advertising practices in the wine industry has not been done before. This exploratory study contributes to consumer awareness and highlights the importance of truthful and transparent marketing practices.