Wine sales steady, but cheaper wine predominates
By 2009-4-12 9:55:44
California sold more wine by volume last year, but overall retail sales numbers were down slightly as recession-weary consumers moved to less expensive bottles, according to the wine industry consulting group Gomberg-Fredrikson and Associates.
The group said industry estimates showed 2008 California wine sales to the U.S. market rose 2 percent in volume, but retail sales dropped slightly from $18.9 billion in 2007 to $18.5 billion last year.
“Consumers are changing their buying patterns by ratcheting down their everyday wine purchases to lower price points, but splurge on higher-priced wines at times because they view wine as an affordable luxury,” said consultant Jon Fredrikson.
The group said industry estimates showed 2008 California wine sales to the U.S. market rose 2 percent in volume, but retail sales dropped slightly from $18.9 billion in 2007 to $18.5 billion last year.
“Consumers are changing their buying patterns by ratcheting down their everyday wine purchases to lower price points, but splurge on higher-priced wines at times because they view wine as an affordable luxury,” said consultant Jon Fredrikson.
From smdailyjournal.com