Wine Demand is Turning Negative, Defying Good News

Photo by Mohau Mannathoko

I don't like it but...

it's true. I might have missed on a prediction that I made. 

Starting in January of this year, I began predicting that overall wine demand would grow through and into at least 2022. As the days passed, the better-than-expected situation with COVID vaccinations became clearer, so I held firm to my forecast and underscored it further in a March blog post. There were so many positives to support my faith in our industry's 2021 opportunity, how could I not be optimistic? 

The Wind's At Our Back

We are sitting with the highest GDP in decades. Fiscal and monetary stimulus from the government is being delivered in trainloads. Restaurant and tasting room sales are being added back to the calculus. Internet sales are at records. Frustrated and cooped-up consumers with exploding personal savings are desperate to spend it on experiences like travel and tourism. The jobs numbers are increasingly positive. And, the stock market is at record highs producing even more discretionary income. 

Second Hour Broadcast - 2019 SVB Wine Industry Report

We're presenting a second hour of content for those who want more from the release of the Annual State of the Industry report. Register now, join us and continue the conversation!!

~~~O-O~~~

The summary statement from the Annual SVB Wine Report is the Wine Business is at a decision point. We either keep doing what we are doing today and see the category sag, or we change the way we sell and market. Why have I come to this stark conclusion?

2019 State of the Industry Report Signup

2019 SVB State of the Wine Industry

Report & Videocast

Wednesday, January 16, 2019 at 9:30 a.m. PT or 12:30 p.m. ET 

The wine business is changing. You can feel it, even if you can't quantify it. Before you plan out sales and marketing for 2019, you will want to tune-in and discover what's taking place, because there were surprises I didn't expect when I started researching this year.