The purpose of this study is to examine the relationship between consumers’ perceived risk and risk reduction strategies (RRS) in wine consumption. Furthermore, the study aims to investigate the effect of risk reduction strategies on wine purchase intention. The data were collected by an online survey of wine consumers and 266 were used for statistics. SPSS 25.0 was used to analyze demographic and exploratory factor analysis, and AMOS 22.0 were used to analyze confirmatory factor analysis and hypothesis testing using structural equation modeling. The result revealed that functional, social, and financial risk positively affect RRS which are store image, reassurance, seek information, and word-of-mouth. Physical risk has no influence on RRS except word-of-mouth. Finally, all of RRS were shown to have an effect on wine purchase intention but word-of-mouth was found to have no effect on purchase intention. When consumers perceive functional, social, and financial risk, they purchase wines at a well-known store, seek wine information, check whether they can get a warranty, and consider recommendations from employees at the store to release their risks. When consumers visit a store by its image, seek information, and seek product reassurance to reduce risks it leads to forming the purchase intention. This study applied the risk and RRS model to the Korean wine industry to investigate wine consumers deeply. Findings would help to provide the basis for future wine consumer research and be used to help domestic wine marketers establish more effective marketing strategies by examining consumers’ perceived risk and RRS in wine consumption.