Sales of lower price wines, typically the type of bottle you would dart into your corner shop for are declining. In comparison more expensive wines from specialist wine shops and high end delis, are on the rise. According to research by IWSR the drinks industry analyst, sales of wines priced between £4.00 and £6.49 have fallen 5% since 2019, while bottles priced between £6.50 and £10.20 dropped 2%. Sales of higher priced wines from £17.78 to £33.75 grew by 2% over the five years to 2024.
With the trend to drink less and drink lighter. It's a major concern for many global wine companies who have previously relied on selling cheaper wines to the majority of wine buyers, to expand their share of the market.
The decline in wine drinking especially among Gen Z, defined as people born between in or after 1997 is well documented on this platform. Plus older wine drinkers, typically aged 40 - 60, who were reliable 'cheaper wine' consumers, many now are reducing their alcohol intake or simply not drinking at all. Drinking habits are changing, people are more likely to have a few friends round rather than have a dinner party and there is a gradual shunning of corner shop wines and an increase in people associating lifestyle choices with the type of wine they drink.
