2009 Year in Review: What Lies Ahead for the High End?
When will the market return to pre-recession levels? Cyclical change or sea change?
by Cyril Penn
Dec 2009 Issue of Wine Business Monthly
It wasn’t long ago that the wine industry was abuzz with talk about consumers “trading up” to pay more for small luxuries and premium products. Much was made of the strategic growth opportunity presented by “premiumisation.” There was continual talk about “affordable luxury” as rising living standards spurred consumers to seek better quality products. The more consumers spent on products, the more they seemed to like them. Many companies, including high-...
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