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According to data from Wine & Spirits Wholesalers of America (WSWA), wine sales declined by 8% in the year ending August 2024, indicating challenges for the category as consumer preferences evolve. Industry expert Dale Stratton attributes the decline in sales to larger systemic issues affecting purchasing habits, particularly noting a sharp drop of 12.5% in sales of premium wines priced above $100.
The upcoming holiday season, known for increased wine consumption, is crucial for the category as producers strive to overcome the challenges faced in 2024. Despite the overall decline, there are signs of optimism within the wine category, with sales of prosecco rising by 2% and an increase of 3% in sales of domestic mid-tier wines priced over $50, as reported by analyst Danny Brager from SipSource.
As casual drinkers turn to ready-to-drink spirits or reduce their alcohol intake, wine producers are adapting to a more uncertain future. Some companies are focusing on premium offerings to attract niche consumers willing to pay more, with Constellation Brands acquiring Sea Smoke and the Duckhorn Portfolio undergoing consolidation. Additionally, producers are exploring new avenues by offering non-alcoholic alternatives, such as Moët Hennessy’s investment in French Bloom, a non-alcoholic sparkling wine brand aimed at consumers seeking a premium non-alcoholic option.
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Lara Heller graduated from the University of Amsterdam in the Netherlands with a degree in New Media and Communication. During her studies, she specialized in digital media, social media strategies, and content creation. She participated in various digital media projects during her university years, focusing particularly on online journalism and media ethics. After graduation, Lara started working as a content strategist at one of Europe’s leading digital media agencies, where she developed campaigns that strengthened the digital presence of numerous international brands.
