Wine seller Tom Natan recently noticed a major difference between millennial wine drinkers and older generations: millennials usually buy far more wine, and in greater variety, than their older peers. Over the past few years, he’s seen young wine enthusiasts order case after case of mixed wine from every region imaginable, yet these customers rarely order the same wine twice. He says, “Even if they tell me they really liked something, they’re probably not going to order it again.”
Although this adventurous spirit allows millennial wine drinkers to experience many styles and varietals, it makes storage a bit more complicated, since they don’t always have enough space to store all of those wines. This is why millennials need a full-service storage system that’s both flexible and reliable to match their spontaneous and diverse wine buying habits. If you’re a millennial wine drinker, a great warehouse storage space will make your wine drinking experience more fun, and could even help you save for retirement.
Why Do Millennial Wine Drinkers Need More Storage Space?
A millennial doesn’t always have the same storage resources that a Boomer does. Here are some of the main reasons why this generation needs better wine storage solutions:
• Millennials buy a huge number of new bottles every year
Millennial wine drinkers rarely buy the same wine twice in part because they want to save space in their cellars for brand new wines (and brand new tasting experiences). They also experiment with unusual varietals and explore up-and-coming New World regions, like New Zealand and South Africa; this means they need more space to store their ever-rotating wine collection.
• Millennials don’t always have access to wine cellars
The problem that many millennial wine drinkers face is that they lack the space and resources to store all of the wine bottles that they want to buy, and they’re not always able to store each varietal properly. This is an especially pressing issue for the vast majority of millennials who rent apartments or houses, since they don’t have the option to build their own storage space, like a wine cellar, on a rental property. As a result, millennial wine drinkers might not purchase as much wine as they’d like because they don’t have a space to keep their bottles safe from light and heat damage.
• Millennials need to store many different types of wine
In addition, millennial wine drinkers tend to buy a wider range of wine varietals, some of which might require different storage solutions. For instance, an adventurous millennial might buy a bottle of Taittinger that needs to be stored upright at 55 degrees, but if he only has a small wine fridge, he might not be able to store his Champagne properly–he’s forced to choose between storing the wine on its side or forgoing temperature-controlled conditions altogether. Without a professional storage warehouse keeping each bottle at the ideal temperature and position, many young wine drinkers aren’t keeping their wine in optimal conditions, which can affect how the wine tastes and how long and well it keeps.
The Solution: Flexible Storage
When you first start a wine collection, you have a choice between a few different storage methods, including home cellars, wine fridges, and professional storage warehouses. Home cellars are a great option if you already have plenty of extra space to work with, and you’re willing to put in the work to insulate the cellar. But for many millennials, this isn’t a feasible option since they’re often living in apartments or even with roommates. Wine fridges are a smaller, more mobile option for those living in tight quarters or rental spaces. However, there’s a limit to how many bottles you can store at any given time–you’ll have to drink your wine fast to make room for more.
Professional wine storage could be the solution that millennial wine drinkers need. A large, reliable storage warehouse will never run out of space, meaning that millennials can store more bottles of wine than they would be able to at home. Knowing that they have unlimited storage space could also lead to greater winery loyalty in the future. Right now, it’s hard for young drinkers to justify buying a full case of the same wine, even if they adore it, because it takes up valuable space that a new wine could occupy. When space is no longer an issue, millennials are free to buy as many bottles as they can afford, and might even splurge on a few repeat bottles of their favorite vintage.
But this storage space shouldn’t just be plentiful; it also needs to be flexible enough to accommodate an ever-evolving palate. Storage warehouses that allow you to sell your wine online without taking the bottles out of storage are a great option for millennial wine drinkers because it’s convenient, can be done entirely online, and gives them the freedom to change their minds on the fly. A millennial collector might decide that they want to try more bottles of fine Argentinian Torrontes, and so they’ll sell off a few aged bottles of Rhys in order to buy these new vintages. Using professional storage with a built-in online marketplace, millennial wine drinkers can buy, sell, and resell any bottle of wine online without ever touching the bottle. They can even buy and sell wine on-the-go from a mobile wine app.
Better Storage Means Stronger Investments
Since many millennial wine drinkers are just getting started on their fine wine journeys, they’re often not sure which wines are worth a long-term investment, and which wines are less worthy of their time and money. It’s not that millennials are inherently disloyal to wineries, it’s that young drinkers are still learning which wines fit their personalities, and which wines are valuable enough on the secondary market to earn a decent profit. Studies on millennial wine drinkers are already showing that they have a taste for fine wine, but they might lack the storage resources to make collecting a serious hobby. On average, millennials are willing to spend about $10 more per bottle than older adults, and 40 percent of millennials think that expensive wine tastes better than cheap wine (compared to 31 percent in older generations).
When millennial wine drinkers have a safe and convenient storage option for their bottles, they might be more willing to try long-term storage and fine wine collecting. Moreover, the youngest wine drinkers could actually get the most benefit from long-term storage, since they have the time to wait decades for a bottle to mature before either drinking it or reselling it for a much greater profit. Some wine investments have better returns than the stock market, which could also prove to be a benefit for young collectors looking to save for their retirements in the future. By investing in long-term professional wine storage now, millennial wine drinkers could set themselves up for a profitable and enjoyable collection in the future.
Whether you are starting your high-end wine collection or adding to an established portfolio, Vinfolio is your partner in buying, selling, and professional storage. Contact us today to get access to the world’s best wine.