Grapevine:The American Wine Economy is Alive and Well in 2013
Grapevine:The American Wine Economy is Alive and Well in 2013
Feb 15, 2013 6
(TheExaminerNews) - As the United States economy continues to slowly emerge from the Great Recession in fits and starts, the beginning of 2013 seems like an appropriate juncture to step back and assess the state of the wine industry.
Prior to the recession, the strong economy fostered a rising demand for high-end wines (priced $50 and higher) and consequently, annual price increases in the five years leading up to the recession were common. In 2008, as the effects of the recession hit every American’s wallet and/or psyche, high-end wine sales plummeted.
During the recession, this market dried up, so to speak, as a flight to clarity ran rampant across the nation. Americans, still in love with wine, sought out the highest quality for the lowest price, seeking clarity in sustaining their pre-recession preferences. Seeking a clear path to their new frugality, they influenced an obliging wine industry.
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