As consumers become more sophisticated, they are willing to spend more, say wine pros.
Americans may be feeling financially constrained these days. And they may also be drinking less, as exemplified by the booming Dry January movement.That’s the price that has emerged as the consumer “sweet spot,” according to a new survey of more than 1,000 wine-industry professionals.... Americans may be feeling financially constrained these days. And they may also be drinking less, as exemplified by the booming Dry January movement.
“It’s where the industry sees the most excitement and enthusiasm,” said Juliana Colangelo of Colangelo & Partners. For starters, many Americans have become more sophisticated about wine and can talk knowingly of a range of varietals and styles in a way that was unheard of a generation ago. And with that level of sophistication comes that desire to trade up, wine pros say.
Adam Levy, who organizes wine competitions in cities across the world and heads up the Alcohol Professor website, said that he believes people are entertaining more at home, given the COVID-era hesitancy about eating at restaurants. And when they entertain, they’re willing to spend a little more, he explained, especially given that prices for bottles are still much lower at retailers versus restaurants.
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