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Trends : the American wine market revises its prices

Par Vitisphere Le 04 décembre 2009
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Trends : the American wine market revises its prices

he era of the $100 bottle of wine is well and truly over, according to the preliminary findings of the annual  State of the Wine Industry Report published by Silicon Valley Bank for 2010-2011. The reduced spending power of American consumers, especially the Baby Boomers, is obliging wine professionals to define a "new normal" for prices.

"For that segment of Baby Boomers who have seen their net worth drastically reduced and who have been the prime target of wine marketing for nearly 20 years, a $50 bottle of wine is now permanently out of the question for a normal purchase," said Rob McMillan, author of the report and founder of Silicon Valley Bank's Wine Division.
According to the report, sales of fine wine - defined as $20 or more per bottle - fell by almost 11% in the first half of 2009, although the market has recovered slightly since then. Growth will continue for bottles costing over $20, pushed up by the cheaper wines in that price bracket. The modest growth in sales predicted by Silicon Valley Bank for 2010 will be accompanied by drastic price drops for several fine wines, moving them into the category of $50 and under.

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