• Home
  • About
  • Contact
SUBSCRIBE TO THE BLOG

Wine Industry Hit Hard

August 27, 2009
Share on FacebookShare on TwitterShare on LinkedinShare on Pinterest
Wine Industry

Australian brewer Foster’s, which owns wine brands Penfolds and Wolf Blass, has added its voice to what many of us already know: the recession has hit the wine market hard.

Speaking to Decanter after his company reported a five percent fall in global wine volume, Foster’s chief executive officer Ian Johnston, said, “the wine category is bearing the full brunt of a lack of consumer confidence brought on by global economic conditions.”

“Trading conditions in key wine markets will remain challenging in 2010 due to the ongoing impact from recessionary economic conditions,” Decanter reported the company as saying.

On-premise sales have dropped sharply as people cut back on dinning out and sales of top-end wines have suffered as customers traded down. A silver lining was in the entry level and low margin wine category which has seen growth.

    Be the first to get the

    latest trends on business and wine.





    Related Articles
    The Chinese Luxury Consumer
    At the end of March 2012, the Chinese Industrial Bank and the Hurun Report Research Institute released a report titled The Chinese Luxury ...
    Read More
    Robert Joseph’s Predictions for 2012
    The UK market remains a major destination for many South African wines, so it was interesting to read renowned international wine author and...
    Read More

    Archives

    Tweets by HeinWine

    In his pursuit of business leadership, Hein focuses his efforts on building world brands and establishing international distribution channels.

    Videos

    LANDBOUSAKE MET HEIN KOEGELENBERG POWER LUNCH WITH HEIN KOEGELENBERG LA MOTTE SHIRAZ EXPERIENCE HEIN ON WINE LA MOTTE TASTING FINDING ITS WAY ONTO CHINESE DINNER TABLES

    LinkedIn

    Sitemap

    Home About Contact Subscribe to Blog Terms and Conditions Privacy policy
    © Copyright 2018 Hein On Wine. All rights reserved.
    • Home
    • About
    • Contact