Posted by Russ Josephs on February 16, 2010 05:58 PM
Similar to how dollar and discount stores are thriving in the ongoing recessionary climate, people are drinking just as much as ever – if not more – only, they’re selecting cheaper varieties.
And these varieties are not limited to domestic sources. Foreigners are actually drinking more Chilean wine than ever, with shipments up nearly 18 percent in 2009, as opposed to California wineries, whose 2009 shipments dropped by 4 million cases, according to consulting firm Gomberg, Fredrikson & Associates.
The problem is that people are choosing cheaper vintages, preventing Chile's wine brands from being able to "break out of the $10- to $20-per-bottle price point," said Bill Crowley, professor emeritus at Sonoma State University.Continue reading...