Wine premiumization may be ending, but you wouldn’t know it by reading the Winestream Media
By most measures, the end of premiumization is underway. Wine drinkers have been opting for less expensive wine over the past six months, and, depending on which expert is talking, the trend will continue and perhaps even accelerate. In other words, lower wine prices and better quality cheap wine.
But it would be difficult to know this from reading the Winestream Media.
I don’t write this to be snarky (well, maybe, just a little), but to point out how difficult it is to tell what’s going on in wine from its most important media outlets. Wine-searcher.com somehow managed to run these two stories almost at the same time – “Premium wine falls victim to the coronavirus” and “Wine sales defy doom and gloom.” And this doesn’t include the site’s regular roundup of all things high priced – “Bordeaux’s most expensive wine,” “Napa’s most expensive wine,” and (my favorite), “Brunello 2015: Another perfect vintage.”
At the Wine Enthusiast, meanwhile, one writer was salivating over $40 California gamay, which is about as premiumized as wine gets that isn’t cabernet sauvignon. And the Wine Spectator has reassured us that it will continue to cover the 2019 Bordeaux futures market, despite what the magazine’s Bordeaux reviewer called the pandemic’s “rude interruption.”
Why is the Winestream Media treating this almost unprecedented moment in world history – and with all of the changes it looks like it will bring to wine – as just another minor sales blip?
• Because that’s what it does, and to expect more of it is expecting more than it is capable of. Yes, it may well be fiddling while Rome burns, but it doesn’t understand that Rome can burn. Rome is eternal, just like wine scores and $300 Napa cabernet.
• Because it doesn’t want to see what’s going on, as Richard Hemming, MW, explained to us last week. If wine writers write things the wine business doesn’t want written, there’s a good chance the wine writers will find themselves persona non grata. As Hemming said, there’s no reason consumers should necessarily trust wine writers.
• Because there aren’t really any good numbers to describe what’s going on, even if a wine writer wanted to write about it. We’ve noted this on the blog many times, and another example came up last week. David Morrison at the Wine Gourd has made a specialty of parsing wine industry statistics, whether sales or scores, and noted last week about one sales study: “The conclusions seem to vary from quite accurate to wildly exaggerated.”
So what’s a consumer to do? Buy wine you like, be willing to try something else, and wait to see what prices will do. We’ll almost certainly see prices drop before the Winestream Media discovers most of us aren’t all that interested in $40 California gamay.