Search results

Wine culture is an increasingly important reality for the development of wine regions that can foster a sense of cultural identity (CI). With the aim of guiding marketing in the wine market and segmenting demand, this study aims to introduce the moderating role of wine-related cultural identity (WCI) in a Cognitive-Affective-Normative (CAN) model to explain purchase intention for innovations.

This quantitative study was conducted in Spain, the country with the largest acreage of vineyards in the world. Specifically, a personal survey was applied to a sample of 1,126 potential buyers of a wine innovation in Rioja, the Spanish wine region with the longest tradition.

(1) WCI moderates acceptance of a wine innovation; (2) WCI levels generate new segments: Enoculturalists (44.67%), who have a strong WCI, Intermediate Enoculturalists (38.90%), with an intermediate WCI and Non-Enoculturalists (16.43%), who have no WCI; and (3) the CAN model strongly explains the behavior of Non-Enoculturalists (R² = 0.81).

The originality of the research lies in the opportunity to test a technical innovation in wine production in a region characterized by a strong wine-growing tradition. Despite growing interest in local products, no study has yet examined the moderating role of CI in a new food acceptance model as proposed here. The findings have important theoretical and practical implications, as they identify new groups for targeting innovation-related actions and reactivating wine consumption in keeping with new consumer trends.

Equity crowdfunding offers a wide audience – the crowd – the possibility of financing a business project by choosing the beneficiary in accordance with the positive impact of the investment on society or the environment. This new funding mode may be located between venture capital and microcredit. In Africa, the phenomenon is embryonic but could find its place in the microfinance system since it is based on the widespread traditional model of “tontines.” We first observed the crowdfunding platforms dedicated to Africa and conducted interviews in Gabon with microfinance institutions and small business owners. This empirical work then led us to mobilize new institutional theory to suggest a conceptual broadening of the participatory financing system, with a view to enhancing local economic development in Africa.