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Crowdfunding in the Wine Industry

  • Olivier Bargain (a1), Jean-Marie Cardebat (a2) and Alexandra Vignolles (a3)


Crowdfunding has recently emerged as a novel way of financing new ventures. It coincides with a growing interest in wine as an investment good and with a search for new funding opportunities by wine makers. In this study, we examine potential investors willing to engage in wine crowdfunded projects and the kind of revenue that would attract them. We presented an original survey where respondents were asked about their wine consumption and purchase, their knowledge about crowdfunding, their relation to the internet, their investment and project related to wine crowdfunding, and their expectations concerning the returns from this type of contribution. Our results suggest that among all forms of crowdfunding, the donation/voluntary contribution side driven by intrinsic motivation is likely to remain marginal compared to crowdfunding as an investment or a form of early purchase. (JEL Classifications: G11, G12, G21, L17, L66)



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We would like to thank the Editor and an anonymous referee for many useful suggestions that have helped to improve the paper.



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Crowdfunding in the Wine Industry

  • Olivier Bargain (a1), Jean-Marie Cardebat (a2) and Alexandra Vignolles (a3)


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