Wine consumers’ willingness (wine neophilia) or reluctance (wine neophobia) to try new wines represent, respectively, an opportunity or barrier for product innovation and market development in the wine industry. Here, we first sought to validate and optimize the Wine Neophobia Scale (WNS) in a large sample of 1269 Canadian wine consumers. Both exploratory and confirmatory factor analyses showed that a seven-item scale was optimal. This modified WNS (mWNS) was then used to investigate demographic and behavioral correlates of wine neophobia. Using lower and upper quartile values, 316 neophiles and 326 neophobes were identified. Wine neophiles and neophobes did not differ with respect to gender or age; however, neophobes had lower household income, education, and wine involvement, and reported consuming fewer wine styles than neophiles. Interestingly, while neophiles drank wine considerably more frequently than neophobes—a finding that is mediated by wine involvement—total annual wine intake did not differ between the groups. Importantly, the price typically paid per bottle of wine also varied with wine neophobia. We recommend adoption of the modified mWNS as a useful tool for more fully understanding the drivers of wine behavior and providing guidance to wine marketers.