But Chris Losh points out that even during the good times, the wine sector has been too price-led, and with consumers now tightening their belts it will be that much harder for wine companies to push through necessary price increases.
How quickly the consumer trend has shifted from saving the planet to saving the pennies! Whereas the era-defining phrase for ‘06 and ‘07 was ‘carbon footprint’, for the last six months economists can perm any two from ‘credit crunch’, ‘housing crash’, ‘oil price’ and ‘energy crisis’ and still have metaphorical change left over for ‘inflationary pressure’.
Wine marketers must take note of these changes in the market. Brand strategies must focus on value and sustainability as well as brand leveraging strategies