Foster's predicts US wine market recovers over the next year

on 04/11/10 at 9:52 pm

Industry

Foster’s is predicting the US wine market should recover in the next 12 months, returning it to the rosy trading environment before the onset of the global financial crisis that decimated wine sales in North America and led many consumers to opt for cheaper and low-margin bottles of wine.

The company’s wine business, which could soon be demerged from Foster’s brewing operations, will also invest new capital and marketing in the $US8 to $US20 price point to capture those customers willing once again to spend more of their money on pricey and fashionable brands.

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