The state of the wine industry is good but expect major changes in the future, says Danny Brager, senior vice president with Nielsen, reports the Sacramento Business Journal. Nielsen data indicates that some 31 percent of wine purchases in retail stores are unplanned, and consumers spend only 1 percent of their online shopping bill on wine. That’s a significant change from shopping in-store, where consumers spend 6.2 percent of their bill on wine.
Brager also forecasts changes in packaging. Canned wines represent a small, rapidly growing segment of wine sales, and peaked at $45 million in the summer of 2017, an increase of 58 percent from 2016. Glass containers, followed by bags in boxes and waterproof cans, represent the vast majority of wine sales.
In terms of demographics, most wine buyers are Baby Boomers and Gen Xers, but the largest potential wine buying group, millennials, is becoming more interested in wine. Older people generally trade up for higher-priced wines, and based on their income, millennials currently don’t have the spending power of previous generations, according to the report.
Source: Specialty Food News