Explore Industries WINERIES & AVAs | NON PROFITS | CONSUMER PACKAGED GOODS | RETAIL
Michael Thomas, Principal Analytical Lead at Google Travel spoke
at the Wine Tourism & Marketing Conference about Macro trends in
travel for the wine industry. Here are some data points that we found
The overall travel industry is a $1.6 Trillion industry. And yet,
only 44% of the revenue happens online. This means that there’s a huge
growth opportunity, still, for online booking companies, event
companies, etc. This is especially true for emerging geographic regions
and new ‘things to do’ industry segments.
Evolving Demand – tourism activities segment is one of the fastest
growing areas. Growth in the tourism activities is expected to grow
from 2017 $140 billion to 2020 $178 billion. The growth will come from
more demand for travel related experiences being booked along a trip.
For every $1 spent on hotels and flights, people spend $3 on
experiences, says Google. 78% of millennials want to spend their money
on an experience rather than buy a ‘thing’ and take it home, according
to Google data.
at trends from Google Travel – Wine consumption is up about 2% annually
for the past few decades. Wine growth per resident is up 3%. Wine
consumption is slowly outpacing population growth.
Wine tours search growth is about 7%. Wine delivery search growth is
increasing by 18% per year. Channels for delivery is important to
consider, especially wine delivery, as that may be a strong segment that
sees growth over the next decade.
“Wineries near me” is one of the fastest growing segments of keywords in the winery space. Scott Fish mentioned this in his presentation at the conference called Ok, Google, take me to the closest winery.