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1. Introduction
Every new generation, whether influenced by the environment, peers or self-developed, has unique characteristics that are substantially different than previous generations (Lockshin and Hall, 2003; Henley et al., 2011; Nissen, 2012; Mora, 2006). The concept of generational cohort theory proposes that a generation of individuals that share the same political, economic and social events during the early stages of life will develop a similar set of beliefs, values and behavior (Inglehart, 1997; Dinas and Stoker, 2014; Pew Research Center, 2015; Padayachee, 2017). A review of the relevant literature will prove that use of this theory has become a positive method of market segmentation that can be used in analyzing consumer behavior (Mannheim, 1952; Bolin, 2017; Inglehart, 1997; Pendergast, 2010; Strauss and Howe, 1991) and providing insights to the development of successful marketing promotions.
Generational cohort theory (Wolf et al., 2018) has also been a useful concept when applied to the wine industry and analysis of wine consumer preferences and behaviors, though at times the concept is combined with other theories such as consumer lifecycle or life-stage theory (Fountain and Lamb, 2011; Johnson and Bruwer, 2003; Lockshin and Corsi, 2012; Wolf and Carpenter, 2005; Thach and Olsen, 2004; Olsen et al., 2007; Agnoli and Begalli, 2011; De Magistris et al., 2011; Charters et al., 2011; Mueller et al., 2011; Trait et al., 2019; Stergiou et al., 2018).
This study focuses on the new and powerful generational cohort of Gen Z, born between 1995 to 2009 according to the American Generations (2014) report and their potential impact on the US wine industry. Currently, they are considered to be the largest generation, comprising 32% of the world population (Miller and Wei, 2018). In the USA, they are also the largest generation at 27% of the population (Duffin, 2019), compared to Baby boomers at 23% and Millennials at only 22%. They also represent more than $143bn in buying power (Dill, 2015), with an expectation of a huge impact on consumer products sales, not only in the USA but also on a global basis. Given that the USA is currently the largest wine market in the world in both volume and value (Wine Institute, 2019; VinExpo, 2018), it is important...