It seems the credit crunch is biting hard into the wine market (or should that be glugging deep). Berry Bros & Rudd are reporting a 25% drop in the price of 2005 Chateau Lafite Rothschild along with similar drops for very fine wines across the board.
At the other end of the market ASDA are seeing people dip below £5 for an average spend, pushing 3 bottles for a tenner to value thirsty shoppers.
The winners in this market seem to be Aldi and Lidl, the ‘cheapo’ supermarkets who are seeing average wine spend per customer go up along with average bottle price as people who would previously not have set foot in the stores notice that they have some interesting wines at inviting prices.
Let’s hope we see more reasonably priced good wine rather than just jugs of Sutter Home finding their way onto the shelves over next few months.