PREMIUM WINE UP 24% IN AUGUST
Table wine saw another great month in August with sales up 11% as compared to an 11.2% increase in July and a 9.6% increase YTD, according to Merrill Lynch. Volumes rose 5% in the 4-week period ending August 13, barely up from July’s growth of 4.9%.
A favorable pricing mix was up $0.03 from July gaining 5.8% and costing $5.32 per bottle. Trading up from jugs to bottles has helped low-end wine brands while the middle-tier pricing is flat. Super-premiums are up slightly.
Higher priced bottles continue to be up in volume, which can only suggest that consumers are still willing to spend on alcohol despite outrageous gas prices. Bottles priced at $15 and up saw the highest volume growth in August at 23.5%, along with a 22.6% increase in the $12-$14.99 segment and a 13.8% gain in the $9-$11.99 segment. Volumes for the $5.50-$8.99 segment rose by 11.8%, while volumes in the $3.00-$5.49 and <$2.99 segments increased by 0.2% and 3.4% respectively.
A favorable pricing mix was up $0.03 from July gaining 5.8% and costing $5.32 per bottle. Trading up from jugs to bottles has helped low-end wine brands while the middle-tier pricing is flat. Super-premiums are up slightly.
Higher priced bottles continue to be up in volume, which can only suggest that consumers are still willing to spend on alcohol despite outrageous gas prices. Bottles priced at $15 and up saw the highest volume growth in August at 23.5%, along with a 22.6% increase in the $12-$14.99 segment and a 13.8% gain in the $9-$11.99 segment. Volumes for the $5.50-$8.99 segment rose by 11.8%, while volumes in the $3.00-$5.49 and <$2.99 segments increased by 0.2% and 3.4% respectively.
posted at 2:00 PM
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