The French aren't immune either according to this Business Week article.
- Live in denial believing that people will always buy your wine and will not trade down to something less expensive. After all, if Screaming Eagle can sell out ...
- Heavily discount to wholesalers. Instead of the middle-man paying, say, $25 for their high-end Pinot they're getting it for $15.
- Run their own specials at the winery. This works if most of their sales are direct-to-consumer.
- Create a new, second label with the same juice at a lower price.
- Sell their juice in bulk instead of processing it themselves. Sometimes I wonder how much Rutherford Cab is winding up in boxes.
- Just lower their prices. Problem is the marketing-types have lots of theories as to why you shouldn't do this. California has a history of holding prices in past recessions.