Wine Sales Unspoiled By Sluggish Economy
on 20/09/10 at 11:29 pmIndustry
When it comes to wine, Americans aren’t letting a sluggish economy come between them, their corkscrew and a vintage bottle from their favorite cellar.
Not only are they buying more wine, they’re trading up to more expensive bottles. That reverses a trend last year when consumers cut way back on discretionary spending, which forced distributors to work their way through suddenly ample inventories.
At supermarkets and other food outlets, sales of 750 millileter wine priced at $20 or above are “up significantly,” leaving shelves at their fastest pace since 2006, said Doug Goodwin, vice president of beer, wine and spirits at SymphonyIRI, which collects point-of-sales data at retailers.