Wine industry insiders forecast a slow road to recovery in 2010, but focusing on value will prove to be beneficial for wineries and set them up for long term success.
The worst of the drop in U.S. consumer spending appears over, said Brian Lechner, a client director with The Nielsen Company, which tracks American spending and entertainment viewing habits.
“But we’re kind of on the slow road to recovery,” he said.
A “new normal” is emerging in dining trends, he said. Consumers are dining out less, especially at white tablecloth restaurants that offer high-end wines.
Shoppers also are looking for deals, with sales “stellar” for wines priced from $3 to $6. But some shoppers also are “trading up,” and many stores are strongly promoting wines at $20 a bottle.
“I think that’s a pretty positive trend for wine,” Lechner said. The wineries that recognize the changes in consumer spending will succeed in the near term, he said.
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Joanie Hudson, Director of National and International Marketing, Santa Barbara Winery / Lafond Winery & Vineyards
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