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Business

China's digital wine dealers beat big importers

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Business

China's digital wine dealers beat big importers

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COMING UP:China's digital wine dealers beat big importers

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00:00:02
>> China's wine market back in a steady flow after a dry spell from President Xi's war on lavish spending. But today it's not all about the fancy bordeaux and beaujolais. Many customers aren't reaching for the high shelf like they used to. In fact, they're not even leaving the house.
00:00:17
Reuter's Adam Jourdan has been mapping the explosive trend of wine sales online. We spoke to consumers all around China for this story,and the real impression that you get is of wine consumers who are a lot more savvy than they might be let's say, five years ago. And especially, with the rise and advent of these online platforms.
00:00:35
It's increasingly transparent. It's easy to find out, is a wine any good, should I be paying this amount of money for it? What that means is that in time when the economy is cooling, people are going online to really decent quality wines, at a good price. And they're no longer willing to pay any old amount for any old plunk.
00:00:53
>> It's a major change for China's $14 billion wine industry, with the tables turning on the giant importers that ruled the roost in the boom years. Now they're out-maneuvered by smaller online rivals offering a wider selection at lower prices.>> It's becoming easier for smaller wineries all around the world to tap into this market.
00:01:12
So we spoke to guys in, for example, Australia which is a big import market for wine into China. They're increasingly looking to try and find ways into China, whether that's through online or through small importers. And really tap into the massive potential that there exists in this market here as the wine market matures.
00:01:32
>> Online wine selling is attracting some major Chinese players. Alibaba and JD.com are pouring into the market moving 45 million bottles of wine just last year.