The Next 5 Years Will Challenge The U.S. Wine Industry, Says Report
According to Forbes Jan 18, 2019…
“According to the 2018 year end report by Silicon Valley Bank Wine Division, EVP & Founder Rob McMillan, “successful wineries 10 years from now will be those that adapted to a different consumer with different values — a customer who uses the internet in new and interactive ways, is frugal and has less discretionary income than their generational predecessors”.
“While Millennials and Gen Xers now consume liquor and beer more frequently than wine, Boomers and Matures are more likely to have consumed wine in any given week. Yet within the past dozen years, both Millennials and Gen Xers have tended to increase their wine purchases each year, while for Boomer and Matures this trend is somewhat on the decline. The report predicts that Millennials will surpass Gen Xers to become ‘the largest fine wine consuming generation’ by the year 2026.”
