With the changing climate, the warmer weather in the grape growing regions of the US have produced a much higher yield of grapes.
An oversupply of grapes will cause prices to fall and this is great news for the wine consumers. Here is the bad news – millennials do not appear to be enjoying wine as much as baby boomers. Economists expect higher crop yields coupled with lower millennial demand will keep prices low for the next 3 years – in fact, the lowest they have been in 20 years.
The takeaway is great tasting wines are about to get cheaper.
For convenience stores who have the opportunity to sell wine, this might be the perfect opportunity to reassess your category lineup – answering the fundamental question what are you not selling that your customers are buying elsewhere.