Wine, Coronavirus & Recession Podcast

covid19COVID-19: Commonsense conversations on the Coronavirus Pandemic is a series of informative podcasts that help listeners understand the medical, public health, and social, political, and economic elements of the current coronavirus pandemic.

Hosted by Dr. Ted O’Connell,  they are required listening if you want to broaden and deepen your understanding of the coronavirus crisis. I encourage you to click on the link above and sample the growing list of podcast topics.

I was flattered to be asked to join Dr. O’Connell on April 15 to discuss how the coronavirus impacts the economy in general and the wine economy in particular. The podcast was released a few days ago. Listen here:

INDUSTRY: Recovery from a Recession, Supply Chains, The State of the Hospitality and Wine Industries | Mike Veseth, PhD

Here’s a summary of the podcast:

In this episode, Dr. Ted O’Connell and Mike Veseth discuss various economic aspects of the COVID-19 pandemic. Some of the questions covered include:

  • Is the United States currently in a recession?
  • What can we learn about the economic effects of the virus from Italy and China?
  • How has the pandemic affected the economics of the wine industry?
  • What industries related to wine have been affected by the pandemic?

Thanks to Ted O’Connell and his associates for the opportunity to speak to the podcast audience.  They are doing a great service by helping those of us outside the medical and public health professions better understand the forces that are shaping our lives. Special thanks to Pedro Fernandes for facilitating this project.

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Are you listening to more podcasts and audio books while you shelter in place? I am guessing that people might especially appreciate the sound of a voice these days. I started thinking out this when I noticed the sales trends of my book Around the World in Eighty Wines. I think we expected that e-book sales would rise when everyone went into semi-isolation, but it looks like the audio book is the most popular format, followed by the hard back and then e-book. Paperback due next month.

Liquid Assets Podcast: Can U.S. Wine Win Back Its Mojo?

268x0w“Can U.S. Wine Win Back Its Mojo?” That’s the title of the lastest Rabobank Liquid Assets podcast, which I recorded along with  Rabobank’s Global Strategist Stephen Rannekleiv and Analyst Bourcard Nesin in Sacramento during the annual Unified Wine & Grape Symposium meetings earlier this month.

The mojo question was at the front of our minds because earlier that day the speakers at the State of the Industry session had painted a complicated picture of American wine’s prospects. There are still opportunties in the U.S. market (the rumors of wine’s death are exaggerated, I said in my presentaiton, paraphrasing Mark Twain), but there are undeniable problems, too.

The best guess is that 200,000 tons of wine grapes were left on the vines in California in 2019 for lack of buyers. Perhaps 30,000 acres of wine grapes need to be taken out of production to balance demand and supply. So it is no surprise that our discussion centered on ways to boost demand and therefore lesson the supply-side pain.

The podcast is fast-paced and raises interesting points about the potential for wine exports (my contribution to the discussion), the need for increased attention to e-commerce sales (Bourcard’s point) and Stephen’s analysis of the challenges of building brands for a changing market environment.

Interested? Follow this link to “Can U.S. Wine Win Back Its Mojo?”

Money, Taste & Wine: Best of the Best Wine Writing 1995-2020

gourmand-best-25years-1995-2020Gourmand International has been spotlighting the best food and wine books and writing for 25 years and for this year’s big fair in Paris they are recognizing what they consider the “best of the best” of the last quarter-century.

9781442234635I am happy to announce that my book Money, Taste, and Wine: It’s Complicated! has been shortlisted for the 25th anniversary best wine writing award (it previously won the 2016 best wine writing prize). Here is a quick summary of the book in case you haven’t read it yet.

As wine economist and best-selling author Mike Veseth peels away layer after layer of the money-taste-wine story he discovers the wine buyer’s biggest mistake (which is to confuse money and taste) and learns how to avoid it, sips and swirls dump bucket wines, Treasure Island wines and toasts anything but Champagne. He bulks up with big bag, big box wines and realizes that sometimes the best wine is really a beer.

Along the way he questions wine’s identity crisis, looks down his nose at wine snobs and cheese bores, follows the money, surveys the restaurant war battleground and imagines wines that even money cannot buy before concluding that money, taste and wine might have a complicated relationship but sometimes they have the power to change the world. Money, Taste & Wine will surprise, inform, inspire and delight anyone with an interest in wine – or complicated relationships!

I admit that it warms my heart to be on a short list with authors like Steven Spurrier (see below).  And the nominees in the other categories (full pdf list here) read like Who’s Who of wine wriiting.

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Very exciting. Big thanks to Gourmand International and everyone who helped make Money, Taste, and Wine such a success.

2019 Wine Economist Top Ten

251626This is the time of the year to look back on 2019 and ahead to 2020. Here at Wine Economist world headquarters our contribution to the first part of this exercise involves probing the data provided by WordPress, our internet host, and seeing which weekly columns got the most attention. It’s one way to gauge what’s on readers’ minds.

The most-viewed column by far this year was Outlaw Wine? 19 Crimes Succeeds by Breaking All the Wine Marketing Rules, which first appeared in 2018.  19 Crimes is a phenomenon and, as I wrote in the column, it breaks convention in many ways and perhaps because of that it appeals to a wine market demographic that is otherwise hard to reach. Are there lessons to be learned from the 19 Crimes success story? Obviously a lot of people want to find out.

The Top Ten list is drawn from columns first published in 2019. Here they are from #1 to #10.  Take a look at the titles. Do you think they have anything in common (my answer follows)?

 

1.   Six Things to Do With Surplus Cabernet Sauvignon Grapes

2.  Global Rosé Market Q&A.

3.  Two Cheers for Canned Wine

4.  Anatomy of the Rising Import Threat to U.S. Wine

5.  Global Wine Market: Storm Clouds Gathering?

6.  The Beginning of the End of the Old World Appellation System?

7.  Is Sustainable Winegrowing Sustainable?

8. Which Wine? Navigating the Retail Wine Wall’s Fluid Map

9.  What’s Really in your Glass? Transparency, Accountability & Wine

10.  Global Wine’s Lost Decade

Interesting list, don’t you think? Several of the columns establish a problem — slack demand for wine in many markets and emerging over-supply, especially of Cabernet Sauvignon here in the U.S. What to do?

Most of the rest of the columns look for answers. There are some growing segments and categories even in a stagnant overall market. What’s hot? Who’s buying? What? Why? The columns on Rosé and wine in cans got extra attention because those were two growing markets in 2019.

I wonder what will be hot in 2020?

The Wine Economist will take a break for a couple of weeks and return in the new year with more analysis of global wine market trends. Sue and I wish all our readers health and happiness. See you in 2020!

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giftsSince this column is filed under “Shameless Self-Promotion” I would be remiss if I didn’t remind readers that wine books make great gifts: Wine Wars, Extreme Wine, Money, Taste, and Wine: It’s Complicated, and Around the World in Eighty Wines.

Note: Many Wine Economist columns are republished in Italian by Civilta del Bere, a leading Italian journal of wine and culture. Grazie mille!

“Around the World in 80 Wines” on List of 56 All-Time Best Wine Books

9781442257368BookAuthority.org has included my book Around the World in Eighty Wines on its list of the 56 “Best Wine Books of All Time.” You can find it at #22, behind Wine Folly and Wine Bible (#1 and #2) along with wine books by some pretty talented wine writers. I’m flattered (and a bit surprised, to be honest) to be included on the list.

Here’s how this “Best Wine Book” list was made. BookAuthority uses an algorithm to rate the popularity and influence of hundreds of thousands of books in many categories. According to the website:

Every day, our site scans the web for notable books on various topics.

It then collects dozens of different signals about each book (such as public mentions, recommendations, ratings, sentiment and sales history) and uses a proprietary algorithm to rate each book. Only the very best books are featured in BookAuthority’s lists.

To keep our site objective and unbiased, ratings are calculated based purely on data. We do not accept authors’ requests to feature a book, nor do we charge any money to be featured.

There are thousands of wine books available according to Amazon.com, so I guess it is unusual to get the sort of attention that the algorithm looks for. I’m just happy that people read my books and find them useful. Awards are the icing on the cake.

I would like to thank BookAuthority (especially whoever wrote their algorithm) and all the people who made 80 Wines a success. Look for a paperback edition of 80 Wines in a few months and maybe another translated edition, too. Cheers!

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(Basketball fans might remember that 22 was Elgin Baylor‘s number — a good omen!)

“Around the World in 80 Wines” Russian Translation

russian80I was pleased to receive a package in the mail with several copies of a book that I know very well, but cannot actually read.

It’s called “Вокруг света за 80 бутылок вина.” It is the new Russian translation of my book Around the World in 80 Wines!

Cool cover, don’t you think? And everyone knows you really can judge a book by its cover! My Russian publisher’s website has more about the book, including an opportunity to browse through some of the pages, download an excerpt, and purchase either the physical or electronic edition.

Even if, like me, you don’t read Russian I think you will enjoy the clever design of the book with its many maps, wine glass circles, and random drops and splotches. What fun!

russmapI’d like to thank EKSMO Publishing House for doing such a fine job with this book and my colleagues at Rowman & Littlefield for facilitating the project.

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Our cat Mooch has been browsing the new book between naps!

russia80

 

Sardinia, Collio, Pennsylvania? Wine Economist World Tour Update

restyling-logo-wine-e-food-01-1-e1522772381248The Wine Economist World Tour is on the road. Here is a quick update.

  • Pennsylvania: Sue and I have just returned from a family wedding near Valley Forge, Pennsylvania and we found just enough time to scratch the surface of this surprising wine region. Watch for an upcoming report.
  • Sardinia: Sue and I are in Porto Cervo, Sardinia this week. I am speaking at the Porto Cervo Wine & Food Festival and we will meet as many winemakers and taste as many wines as we can and report our findings here. This is our first trip to Sardinia and we are excited to learn about the island and its wines.
  • Collio: We’ll be in Northeast Italy at the end of the month participating in the Enjoy Collio Experience program.    I will be part of a roundtable discussion on economic sustainability along with Marco Colognese (The Espresso Guides), Robert Princic (Gradis’ciutta), and Roberto Felluga (Russiz Superiore), moderated by Rosaria Amato (La Repubblica).

What’s further down the road? It looks like British Columbia and Chile this summer. Perhaps our path will cross yours somewhere along the wine road?

The Wine Economist will pause while we are on the road and return very soon. Cheers!