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The unique and at the same time very complex nature of the wine requires a more thorough selection process compared to other consumer products. Wine consumers are faced with a number of brands, grape varieties, and regions of origin, diverse tastes and prices. Using discrete choice experiment this study explores the importance that consumers in Serbia attach to five attributes of the local wine brands. Respondents were asked to evaluate 10 choice tasks, each with three different wines, and to choose the one that they would like to have with friends or family. The sample results indicate the high importance of the wine brand, while the price proved to be the least important. However, preference-based segmentation identified three clusters that differ primarily in the type of wine they favor, but also whether they like or not sweet and sparkling wines. It turns out that the price is a moderately important attribute in all clusters.

Heterogeneity of Serbian consumers' preferences for local wines: Discrete choice analysis