Gary Vaynerchuk video interview: 'US should stay away from Bordeaux 2009'
- Friday 11 December 2009
In an interview at the UK launch of his new book 'Crush It: Cash in on your Passion,' Vaynerchuk said his wine retailing business, Wine Library, had 'rolled the dice with not playing the '08 market' and said firmly that he would be staying away again in 2009.
Speaking about 2009, Vaynerchuk warned that the current economic crisis would impact heavily on the en primeur campaign in the US, because the conventional buyers aren’t in the market for it.
'Futures rely on the new buyer, the next generation coming along. The problem is, the new buyer, the one that would have been there under normal circumstances, is not there.'
'In the US, if they’re going to buy a future, and they see that 2008 Latour has 98 [Parker points] and the 2009 has 99+, and the price difference is staggering, they’re going to buy the 2008.'
Vaynerchuk reiterated the online call to arms he delivered at the recent Wine Future conference in Rioja, saying that the only way wine producers would survive in the future was by 'making real relationships with consumers.'
'Producers need to get into the trenches. It's the way I built my brand – they need to have a real connection with the consumer.
'They need to be on Facebook, they need to be blogging, video blogging and answering every one of their emails. The only way to have a real business is to have a real relationship with the consumer.'
'I think the US has a leg-up because technology is such a backbone of what’s going on in the US.'
Vaynerchuk, who was included in this year's Decanter power list at number 40, said that American palates were changing, moving away from the traditional 'fruit bomb' preference.
Vaynerchuk's latest book 'Crush It! Why Now is the Time to Cash in on your Passion' is the first in a series of 10 books in a $1m publishing deal with HarperStudio.
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