The Scandinavian Market: Strategies for the Success of Italian Wine
The session of the wine2wine Business Forum 2023 presented by Krister Bengtsson and now accessible in podcast format, offered an in-depth analysis of the Scandinavian market. Bengtsson, founder of the Star Wine List guide, examined the positioning of Italian wine in Scandinavia, offering a detailed overview of individual markets and addressing several key issues.
Sweden, Finland, Norway vs Denmark: two market models
What makes Nordic markets such as Sweden, Finland, Norway and Denmark particularly interesting is their interconnectedness. Similar in proximity and culture, these markets are often grouped together to facilitate analysis and identify common trends.
However, while it is useful to examine common trends, it is critical to recognize the important differences between these markets. In Sweden, Finland and Norway, the market is controlled by rigid monopolies, forcing producers to partner with importers for distribution. Importers purchase the wines, store them and resell them to monopolies, which in turn distribute them through their own shops to the final consumer. Direct sales to consumers in the HoReCa channel are managed entirely by importers or their wholesalers.
The situation is however different in Denmark, where the market is highly fragmented and competitive, with a significant presence of supermarkets and online channels.
The status of Italian wine
In all four countries, Italian wine is highly regarded and often preferred in restaurants, accounting for a considerable market share. The wines of Piedmont and Tuscany, which are among the best-selling in high-quality restaurants, continue to maintain an important position, together with Venetian wines.
For Italian producers who aspire to appear on the wine lists of the best Scandinavian restaurants and wine bars, it is essential to understand not only market trends and customer preferences, but above all the relationship between catering, monopoly and retail. Sustainability and transparency are becoming increasingly important, especially in plant-based venues. Furthermore, creating clear and easily understandable labels that highlight the type of grape or feature images can facilitate access to these markets.
The insight provided by Krister Bengtsoon offers Italian wineries all the tools necessary to successfully navigate the complex landscape of the Scandinavian market, making the most of the available opportunities.
Krister Bengtsson
Krister Bengtsson is the founder and editor of Star Wine List, a guide and media platform for the best wine restaurants and bars around the world, launched in Sweden in 2017. It now covers 37 countries and offers over 2,000 recommendations from wine professionals. He holds an MBA on wine from the Kedge Business School in Bordeaux and was named Wine Person of the Year in Sweden by Allt om Vin magazine in 2018.