Now business analysts talk about wine
The report by the American expert John Mariani, from Bloomberg group, predicts a hard 2010 for wine, in agreement with the less optimistic analyses from OIV
The 2010 does not bode well for the wine market, according to American expert John Mariani, from the Bloomberg Group.
Mariani predicts a decrease in the price of wine around the world, either for the prized Bordeaux ou Bourgogne wines and for the cult wines from California. Italian, Spanish, and Chilean producers, who hoped to sell for prices in line with the oldest French brands, will have instead to cope with a general contraction of prices.
The American consumers, for instance, will buy more wine below 10$ per bottle, and the number of online purchases will increase. Websites like wine-searcher.com or vinfolio.com allow to compare prices easily, and to obtain good discounts. The crisis of the market should also limit the invasion of new import wines from South America and Eastern Europe.
Even champagne wines will face problems. The overall situation of the market will have an impact on it, also because producers have excessively raised the prices over the last few years, pushing them up beyond 100$ per bottle. Other producers of similar wines, such as the Italian Prosecco, the Spanish Cava, and the Californian sparkling wines, have instead managed to give good visibility to their wines, which also received positive reviews and are sold for reasonable prices. In this period, the Champagne producers are reducing the production and storing bottles, in order to wait for a more balanced situation. The recession will also hit the wallet of high quality restaurants, that will purchase only small quantities of priced wines and will try to use stocks previously purchased with hefty investments.
From the point of view of production, Mariani is persuaded that many producers would switch from corks to screw tops, in order to avoid the problems due to oxidation and cork, but most of all to offer a product for a lesser price to the average consumer. On the other hand, many fear that these products would be considered of inferior quality.