According to Databank there is a Silver Lining for Wine Sales, off-premise wine sales have increased in the wine sector so much that it will offset the losses from on-premise. For the lay person this means Retail wine sales have increased enough so that the decrease in Restaurant wine sales has been erased. This is in spite of a recession, pandemic, competition and all the other clouds hovering above the Wine Industry.
In an article by Shanken News Daily on 9-8-20 ,they went on to further analyze this promising trend. Overall growth in wine sales has been slowing and is expected to decline in coming years as the generational shift from Boomers to Millennials continues. But strong growth is here and now.
Good news on the wine sales front.
The areas of strong growth include, New Zealand Sauvignon Blanc, Rose from anywhere and everywhere, California red blends, Prosecco and canned wines. This is what people are buying up to ease the pain of lockdown. Apparently it takes a lot of alcohol to enable people to cope with being unemployed or working from home and being 24/7 with their roommates/significant other/family or alone.
Other segments in the alcohol sector that Americans are turning to to ease the pain of lockdown include spirits, seltzers, and premixed cocktails. Bars are mostly still closed but the silver lining in wine sales is that the back yard is open.
See what I’m drinking here!