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Original Research Article

Exploring the Superstar Effect in the Wine Industry: Wine Spectator's Top 100 List and Price Premiums

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  • Omer Gokcekus,
  • Carter E. Bucken
Omer Gokcekus
Seton Hall University
Carter E. Bucken
Seton Hall University
DOI: https://doi.org/10.36253/wep-17003

Published 2025-07-07

Keywords

  • Superstar effect,
  • Wine Spectator,
  • Top 100 list,
  • Price premium

How to Cite

Gokcekus, O., & Bucken, C. E. (2025). Exploring the Superstar Effect in the Wine Industry: Wine Spectator’s Top 100 List and Price Premiums. Wine Economics and Policy. https://doi.org/10.36253/wep-17003

Copyright (c) 2024 Omer Gokcekus, Carter E. Bucken

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study examines the "superstar effect" in the wine industry, focusing on whether inclusion in Wine Spectator's Top 100 List leads to sustained price premiums. Using data from Wine-Searcher and Wine Spectator, we analyze wines ranked number one from 2010 to 2021 and the top 10 wines from 2016. The findings reveal that being ranked number one results in an immediate 85% price premium compared to previous vintages. A random-effects GLS regression further demonstrates that the top 10 wines maintain elevated price premiums for up to five years. This research expands the literature on the superstar effect, traditionally explored in entertainment and sports, by illustrating how critical recognition influences long-term pricing in the wine industry. The results offer actionable insights for wine producers and marketers, highlighting how rankings drive consumer behavior and create sustained market advantages.

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