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Sustainability
Volume 13
Issue 14
10.3390/su13148001
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Article

Effect of Online Collective Intelligence in Wine Industry: Focus on Correlation between Wine Quality Ratings and On-Premise Prices

by
Young-Sik Kwak
1,
Yoon-Jung Nam
2 and
Jae-Won Hong
3,*
1
Department of Business, Gyeongsang National University, Jinju 52725, Korea
2
Vino Consulting, Seoul 06018, Korea
3
Department of Global Trade, Gyeongsang National University, Jinju 52725, Korea
*
Author to whom correspondence should be addressed.
Sustainability 2021, 13(14), 8001; https://doi.org/10.3390/su13148001
Submission received: 31 May 2021 / Revised: 6 July 2021 / Accepted: 14 July 2021 / Published: 17 July 2021
(This article belongs to the Special Issue 4th Industrial Revolution and New Trends in Service Industry)
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Abstract

This study aims to explore whether wine CI (Collective Intelligence) platforms, such as Wine Spectator and Wine Enthusiast, can provide a wine rating effect on price, as Robert Parker’s does in the Korean wine market. To achieve the purpose of the study, we collected information with wine evaluation ratings and on-premise prices from three wine evaluation sites and seven restaurants in South Korea. The researchers calculated the Pearson’s rho between the wine evaluation ratings and on-premise prices based on country, region, vintage, and type of wine. Based on the results of the study, the CI of wine ratings shows statistically the same association degree to price as wine guru Robert Parker’s score. This study can academically extend the research of CI’s application in the wine industry and provide strong support for a sustainable e-business model and pricing tactics in the wine industry.
Keywords: Online Collective Intelligence; wine rating on web; on-premise wine market; Country-of-Origin Effect (COE) Online Collective Intelligence; wine rating on web; on-premise wine market; Country-of-Origin Effect (COE)

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MDPI and ACS Style

Kwak, Y.-S.; Nam, Y.-J.; Hong, J.-W. Effect of Online Collective Intelligence in Wine Industry: Focus on Correlation between Wine Quality Ratings and On-Premise Prices. Sustainability 2021, 13, 8001. https://doi.org/10.3390/su13148001

AMA Style

Kwak Y-S, Nam Y-J, Hong J-W. Effect of Online Collective Intelligence in Wine Industry: Focus on Correlation between Wine Quality Ratings and On-Premise Prices. Sustainability. 2021; 13(14):8001. https://doi.org/10.3390/su13148001

Chicago/Turabian Style

Kwak, Young-Sik, Yoon-Jung Nam, and Jae-Won Hong. 2021. "Effect of Online Collective Intelligence in Wine Industry: Focus on Correlation between Wine Quality Ratings and On-Premise Prices" Sustainability 13, no. 14: 8001. https://doi.org/10.3390/su13148001

APA Style

Kwak, Y.-S., Nam, Y.-J., & Hong, J.-W. (2021). Effect of Online Collective Intelligence in Wine Industry: Focus on Correlation between Wine Quality Ratings and On-Premise Prices. Sustainability, 13(14), 8001. https://doi.org/10.3390/su13148001

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