Wine Consumers Focusing On Quality Over Quantity, Retailers Say According to Impact Databank, the U.S. wine market is projected to eke out a small value increase this year, despite a 2% decline in volume terms. Wines priced $10 and over are expected to outperform less expensive segments, helping to drive the first post-pandemic increase in value for the industry. At the retail level, consumers have become more price- and health-conscious, driven by economic pressure and the self-care movement. “Customers are buying fewer bottles per visit, sticking to reliable brands and varietals they know and trust,” says Jon Halper, founder and CEO of the 15-unit retail chain Top Ten Liquors in Minnesota’s Twin Cities. “Even the most elite buyers are scaling back, focusing on quality over quantity or top brands.”
The wine industry is facing a significant shift in consumer preferences. Consumers are increasingly seeking out high-quality wines at affordable prices. This trend has prompted many wineries to adapt their strategies to cater to this new demand. Halper Wines, a prominent player in the industry, has been actively responding to these trends by focusing on three key areas: quality wines under $20, staff education, and tastings.
At Bay Ridge Wine & Spirits in Annapolis, Maryland, wine sommelier and buyer Sam Audia says Cabernet Sauvignon sales usually pick up once the weather cools. “Paso Robles Cabernet Sauvignons have been doing well, including Daou ($26 a 750-ml.), The Fableist ($25), and J. Lohr Seven Oaks ($17),” Audia says. In the 12 months through July, wine depletions nationwide decreased 7.7%, according to Wine and Spirits Wholesalers of America’s SipSource. Bay Ridge is trying to combat that trend with a mix of inventory. “We are keeping a good base of a lot of things and not laying into any one category heavily,” Audia says. “We’re leaning into more mid-priced wines in the upper teens to less than $30, which seems to be the sweet spot for white and red. Above $30 a bottle has been a tough sell.”
**A. The Rise of the Refreshing Wines**
**B.
These wines are known for their crisp, refreshing, and aromatic qualities. These wines are often described as having a “clean” and “bright” character, with notes of citrus, herbs, and stone fruits. Wine.com’s data reveals that these three varietals have experienced a significant surge in popularity, with a 20% increase in sales year-on-year.
Tagged : retail, wine GET YOUR FIRST LOOK AT 2024 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2024 IMPACT DATABANK REPORTS. CLICK HERE.