A couple charts below from Silicon Valley Bank's annual wine report show what age groups are drinking wine in the U.S. and a look at overall growth. Both are pretty interesting.
Who is buying wine?
We hear so much about the millennials and what they are doing to the wine industry and all that. Well, it honestly doesn't seem so by the following chart does it?
(Click on either chart to enlarge it)
Millennials and boomers each have about a 17 year range with x-ers only 12. The sweet spot of wine buyers seems to still be with consumers in their 40s and 50s -- something I've noticed for as long as I've been in the biz. It doesn't matter what you name them.
How much have we been buying?
We've had a long period of wine growth since the mid-90s. Along with that growth in the premium wine sector has come price increases usually outstripping inflation. This has been especially true in the last few years since the end of the Great Recession. Sales have recently taken a hit and leveled off, perhaps because of those prices. Are the days of regular increases in sales ending (for awhile, at least)?
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