SILICON VALLEY - The 16th annual Silicon Valley Bank State of the Wine Industry Report, produced by founder of the Bank’s Wine Division Rob McMillan, predicts a strong wine market for 2017. Over the next series of posts, we want to highlight the most important parts of the report for you. We will also show you why Merchant23 not only agrees with Rob on the future of the wine industry, but how in many ways we are already one step ahead of him!
Some of Rob's key statistics from the report included;
- Wine sales in the Premium category are expected to go up by 10-14% from 2016.
- There will be an increase in demand for wines sold between $12-$25.
- Volume and price drops for wines under $9. The $3-$6 price segment appears most at risk.
- In the U.S., per capita consumption will have a slight increase.
- Millennials will stay on trend with purchasing red blends between $8-$12.
- The industry will continue to experience shortages in high-end Pinot Noir and Cabernet Sauvignon.
2016 REPORTED SALES AND CASE GROWTH
Source: SVB Annual Wine Conditions Survey
There are hundreds of small producers making fantastic Pinot Noirs and Cabernet Sauvignons whose products are in high demand. Unfortunately, they don't have the resources to get on distributor's books and make it to market, creating price hikes and shortages. That's where Merchant23 comes in. Sellers can upload their products to the online marketplace and Buyers can download our Seller Index below. Take advantage of the growing industry and start doing business on Merchant23 today!