Price is a core component of both wine firms’ and consumers’ decision-making and so there has been a lot of analysis of the determinants of wine price. Most of the research has used the hedonic price function and assumed that the wine market is homogeneous with respect to both distribution channel and price segments. In this paper, a hedonic price function is estimated using data from a specialist retailer and a large supermarket, i.e., retailers in two different consumer market segments, niche and mass market, respectively. We conclude that the wine market is heterogeneous, and the importance of the various price determinants differs between distribution channels and, in the case of the specialist retailer, throughout the conditional statistical distribution of the price. This result may help the wine companies to place themselves in the market value chain.

The purpose of this study is to explore the Russian and Chinese emerging markets for imported wines, by assessing Beijing and Moscow consumer demand for different attributes. This study employs the Discrete Choice Experiments technique to evaluate consumer preferences and willingness-to-pay for the selected wine attributes (medals, alcohol level, landscape certification, country of origin, grape variety and price). Results from Latent Class models provide evidence of preference heterogeneity and suggest the existence of two distinct consumer segments in China, and three segments in Russia. In both samples, the wine medals and country of origin are the top selected characteristics. Conspicuous consumption tendencies were found in some segments, with price having a positive impact on utility, probably signalling quality.