Either because of the financial crisis or a general feeling of depression, consumers are drinking as much wine as before but cheaper. The average price of the top selling wines of the online store MyWinesDirect.com has dropped just over $2 per bottle from $12.93 to $10.87 (16%), according to Bryan Dougherty, CEO of My Wines Direct.
Is this a significant trend? Certainly because it is common to a lot of wine stores, whether on line or off line. Several store owners I talked to in France reported the same request from their customers: they buy as many bottles as before but at a lesser price. Those buying in the $15-20 are now buying wines under $15 and so on.
It means – as some previous studies already showed – that wines under $10-15 will not suffer too much – not any more than the pricier wines. The middle range is going to suffer the most – unfortunately.