Thursday, February 15, 2018

Growth in wine demand is slowing as Boomers age:

Silicon Valley Bank released its State of Wine Industry report. Highlights:

1. Growth in "premium" wines (wines costing more than $10--that shows you how far up in the wine price curve you are!) is slowing dramatically, probably due to the movement of Boomers away from wines (as they develop age-related health issues, and/or die), and the relatively higher support among Millennials for hard liquor, with less demand for wine. Also, many Boomers who still drink a lot of wine are transitioning to slightly less-expensive wines, as they begin to adjust to a retired life on a fixed income.

2. Ultra-high-priced wines will have difficulty raising prices.

3. Most wine consumers are still moving up in the price curve, but this is predominantly moving up out of the $4-$7 price range, to prices barely higher than that.

Here's the article.

(photo credit to; pictured are some hyper-expensive wines)

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