doi:10.1017/jwe.2025.10108engSerrano, RaulAbella-Garcés, SilviaFerrer, Juan RamónPinilla, VicenteProduct-market adjustment and wine export performanceART-2025-147546This paper analyzes the impact of product-market fit on firms’ export performance, focusing specifically on the case of wineries. To this end, we use a representative sample of Spanish wineries and data on 49 export markets. The empirical analysis is based on a firm heterogeneity model that integrates both macroeconomic and firm-level factors influencing wine export performance. Our findings indicate that a good product–market match facilitates export activity and can mitigate traditional barriers to international trade, such as geographic or political distance. When a winery conducts effective market research and identify markets where consumer preferences align closely with the characteristics of its products, its export performance improves significantly.2025http://zaguan.unizar.es/record/16787410.1017/jwe.2025.10108http://zaguan.unizar.es/record/167874oai:zaguan.unizar.es:167874info:eu-repo/grantAgreement/ES/AEI/PID2022-138886NB-I00info:eu-repo/grantAgreement/ES/DGA/S52-23Rinfo:eu-repo/grantAgreement/ES/DGA/S55-23RJournal of Wine Economics (2025), 1-20byhttps://creativecommons.org/licenses/by/4.0/deed.esinfo:eu-repo/semantics/openAccess