When we think about wine and creative industries, we might not organically think that these fields have many similarities. However, there are some critical similarities, and creative industries could benefit from looking at pricing strategies from the wine industry when defining their own prices. 

What is the pricing in the wine industry like? And what can creative industries learn from these pricing strategies? In this article, we explore this topic from the perspective of experts from the wine industry, as well as research. 

Creativity and Wine: Two Sides of the Same Coin

Although winemaking might not fall under the creative industries, there are significant similarities between the two industries. First, both are industries that require a high degree of skill and artistry built over years of craftsmanship. Like creative professionals, winemakers rely on creativity to produce their unique products. 

Second, both high-quality wines and creative products and services emphasize quality over quantity. Projects can be time consuming, but the high quality of work is valued over mass production. However, changing market trends require both winemakers and creative professionals to be adaptive and innovative. 

Most importantly, both winemakers and creative professionals are able to develop products that consumers can evoke emotions and form deep bonds with. This enhances the experience of consuming both wines, as well as art or other creative services and products. These emotions and bonds can be built and supercharged through storytelling. 

The Wide Range of Prices in Wine

Wines are a renowned category for having a wide variety of prices. For us non-experts, there might not be significant differences in the taste of a 15€ and 150€ bottle of wine. In fact, Plassman et al. (2008) studied how price might impact the taste of different wines for consumers. Consumers were asked to taste the exact same wine three times, but were told a different price point each time. The researchers found that consumers were more likely to evaluate wine higher when they were told that it was more expensive. In addition, wine that was believed to be more expensive caused higher increases in activity in parts of the brain that dealt with positive emotions. 

In later articles, we will explore how emotions impact our purchase behavior. While they play a role in wines, we know that just a high price is not enough of an incentive to buy a bottle of wine. To actually buy the bottle, the seller also needs to present the right combination of features that signal to the buyer that the product is good value. We interviewed a wine seller and a winemaker to better understand what are the things that make one wine more expensive than another. 

The Region of Wine

Champagne is more expensive than prosecco. While there are several reasons, such as the time intensity of production, that impact the price, an important factor is the reputation of the Champagne wine region. In most countries, you know that when you are buying a bottle of champagne, you are getting a bottle of sparkling wine produced in the wine region of Champagne because the claim is protected by law. 

Many people also have knowledge and preferences about the different countries or regions that wine is produced in, even if the type of wine is not necessarily protected by laws. There are also some people that prefer wines produced in traditional winemaking countries such as France or Italy. Regardless, the consensus is that if the region is well-regarded and known for good wines, wineries are able to charge more for their wine. 

The Reputation of the Winery

Like with regions, there are also wineries that are well-known. Since wine is not a product that is easy to mass produce, typically famous wineries are able to ask more for the wines that they are producing. 

How Do Wines and Wineries Develop Their Reputation?

While there might be some small differences, it’s quite certain that the grapes and wines produced in champagne or at a famous winery are not significantly different from grapes and wines elsewhere. So, how do famous wineries and wine regions create their reputations? 

Marketing and branding are important. The reputation and perception of quality is built through understanding what are the important features of a wine for high-end wine consumers and emphasizing these in the storytelling of the winery or wine region. Most typically, expensive wines emphasize artisan craftsmanship, high quality, and emotions. Like in the creative industries, winemakers are passionate about their craft, and this is conveyed in the story that is shared with the product when selling to customers. 

What Should Creatives Take Away From the Wine Industry?

Price Is a Powerful Indicator of the Quality of Your Product 

Creative professionals can learn a lot from how the wine industry sets its prices. Just like wines can range from budget-friendly to ultra-premium, creative services and products also span a wide spectrum. Plassman et al. (2008) found that when people were told a wine was expensive, they enjoyed it more, even though it was the same wine as the cheaper one. This shows how powerful price perception can be. For creatives, this means that how you price your work can affect how clients see it. By charging more, you can make your service or product feel more valuable, especially when you share the story behind it. 

Storytelling Is How You Can Justify the Price 

Reputation and storytelling are also key, and this is something both winemakers and creatives have in common. Just like a bottle of Champagne is more expensive because of the region’s prestige, creatives can charge more by building a strong personal brand. By showcasing your years of expertise, emphasizing the unique craftsmanship behind your work, and telling a compelling story, you can build more value around what you offer. People want to feel a connection to the work they buy, whether it’s art, design, or any creative service. By combining top-notch quality with a story that taps into emotions, you can elevate the perceived value of your work and confidently charge what it’s worth.