Sign of the Times – Tough Market for Luxury Wine
This should come as a shock to no one, but has the economic downturn continues, the market for luxury wine is drying up. Whle first quarter wine sales are up 5% over last year, sales of wine costing $25 or more are down 12%. Some wineries are reporting revenue down by as much as 40%. This is also translating into discounted prices for luxury wine – so this trend may not be a bad thing for consumers.
To learn more read – Luxury Wine Market Reels from Downturn, Wall Street Journal, July 8, 2009.
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