From Sigi Hiss
, at 18. April 2009 10:29
just-drinks.com editorial team - US wine sales trickle downwards. Sales of wine in the US have fallen in value for the first time in 15 years, as consumers reign in their spending during the recession, new figures show.
US wine sales fell to $30bn in 2008, down slightly from $30.4bn in 2007, according to new figures from the California Wine Institute, which commissioned market research from Gomberg-Fredrikson & Associates.
The decrease marks the first fall in US sales wine since 1993 and comes as the country contends with one its worst recessions for a generation.
“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 Wine Institute CEO and president Robert Koch.
Despite the slip, sales of wine in the US for 2008 remained ahead of 2006, when sales reached $27.8bn.
The drop in 2008 sales has been most keenly felt in the on-trade, with the Institute reporting that restaurant wine sales by volume fell 10% last year.
California wine recorded a “slight” decrease in domestic sales in 2008, to $18.4bn, but volume sales rose by 2% to 466.7m gallons for the year, according to the Institute.
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