One factor for me in drinking less wine - the 750ml bottle is just hard to work with and still be healthy. I still drink, but I rarely have more than 1 serving at a time (maybe 2 on the weekends). With beer or spirits, I can have exactly as many servings as I want with no waste which eliminates the pressure to over drink. With a 750ml bottle of wine, I'm on the clock to finish it before it goes bad, and at up to $50 a pop that's a very large commitment. I went from being a member of multiple wine clubs to now purchasing predominately whiskey and a little craft beer. Wine is pretty much only for holidays where I can spread the alcohol over multiple people and I'll purchase luxury items for these dinners - Napa cabs, red bordeaux, vintage port, sauternes, et cetera.
Good comment. What you say is playing out all over the world. It's not just storing wine with Corovin - hardly anybody does. You crack a bottle and it's three days tops. Factor in the price and folk are opting for cheaper.
Hi, I've been watching your videos and you have a truly incredible cellar. I'm a very young and 3rd generation wine fanatic with the benefit of access to cellar space to get a head start on my collection (bordeaux and barolo focused). I agree with your take that first growths are just too expensive now. My dad recalls stories of his father buying first growth in the 70s, before he even had a cellar, to drink at will. They were 2-3x the price of more standard growth Bordeaux, not 10x. I know you feel the markets will come down, but i fear the worst that the best that will ever happen is that their prices will stall. Do you think I will ever have a point in my life where the price differential between say a 3rd growth and a 1st growth is narrow enough to justify buying some. Even many second growths are out of control now.
Look at small restaurants, they aren’t serving bordeaux superieur or bourgogne rouge as their house wine anymore. They go for cheaper argentinian and chilean wines.
This was a very good and interesting video, I'm sure you are right about your prediction. One thing that could soften the issue a bit is the low yealds of Bordeaux 22 and probably 23 being a very bad vintage, but the tendency for young people not drinking wine, combined with more and more countries entering the market is a bomb...
Very interesting times for the world wine trade. Your point of the anti drink lobby is very relevant here in Ireland too. Here, the government has brought in minimum prices alcohol can be sold at. Every year at budget time the trade hold its breath to see will the government hike the tax again. So even if the trade is trying to off load stock it will still be a high price.
Can you increase demands by keeping the price high? The market will keep getting smaller if the French get rid of the vines and less wine are available.
I drink both wine and distilled spirits, and it has been interesting to observe trends in both markets. Wine certainly isn't as "cool" as it once was, and I have noticed when I go to wineries and wine bars that the demographic of wine drinkers is aging. The distilled spirits scene seems healthier and younger, and there is more excitement. There are some signs of weakness in the bourbon secondary market, so maybe a downturn is coming there. (This would be a good thing - the bourbon market has been overheated to the point of absurdity.) However, tequila is booming, and bottles that used to be readily available are becoming allocated. There is a resurgence of interest in cocktails, including a craft cocktail movement. I have been moving more in the direction of distilled spirits. They are more convenient for me - an opened bottle can last for years - and as I get older, wine is starting to bother me a little more than it used to, while distilled spirits sit better with me. All of this makes me wonder how competition the wine industry is getting from distilled spirits. If bottled cocktails are becoming the gateway drink for young drinkers, further exploration of distilled spirits might be the next logical step in their booze journey.
like you said, people drink less but they drink better, thats why industrial wine is collapsing and when I say better, I dont mean the overpriced French wines. blocking cheap Spanish wines wont help France. but at the end of the day, do we really care about $5-10 wine industry? do we care that these big companies will collapse? I dont think we should. I say faster they collapse, better.
The big problem is fewer people are drinking wine. The bigger companies are getting more powerful because they have the capital to buy troubled estates at cheap prices. As the market gets smaller the big companies get a larger slice (market share) of that smaller pie. When the market expands again (hopefully in the future) they gain increased sales. Four large wineries account for 90% of sales from California.
@@winemoneysong you are correct,of course. but the way I look at it, there are several different layers of wine industry and these layers have almost no relationship with each other, even though they make same product. demise of one has almost no influence on other… market will expand but expenditure will not be based on curiosity and not cheap cabernet. thats my prediction :)
you should care about the 5-10$ wine industry because it's the gateway market for young adult wine drinkers who will eventually replace the older folks.
@@vinceslapchopper thats not true. young and hip dont drink super market trash. they try to drink less but unique and “true” wines. times of $6 Chards are been charted away.
One factor for me in drinking less wine - the 750ml bottle is just hard to work with and still be healthy. I still drink, but I rarely have more than 1 serving at a time (maybe 2 on the weekends). With beer or spirits, I can have exactly as many servings as I want with no waste which eliminates the pressure to over drink. With a 750ml bottle of wine, I'm on the clock to finish it before it goes bad, and at up to $50 a pop that's a very large commitment.
I went from being a member of multiple wine clubs to now purchasing predominately whiskey and a little craft beer. Wine is pretty much only for holidays where I can spread the alcohol over multiple people and I'll purchase luxury items for these dinners - Napa cabs, red bordeaux, vintage port, sauternes, et cetera.
Good comment. What you say is playing out all over the world. It's not just storing wine with Corovin - hardly anybody does. You crack a bottle and it's three days tops. Factor in the price and folk are opting for cheaper.
Hi, I've been watching your videos and you have a truly incredible cellar. I'm a very young and 3rd generation wine fanatic with the benefit of access to cellar space to get a head start on my collection (bordeaux and barolo focused). I agree with your take that first growths are just too expensive now. My dad recalls stories of his father buying first growth in the 70s, before he even had a cellar, to drink at will. They were 2-3x the price of more standard growth Bordeaux, not 10x. I know you feel the markets will come down, but i fear the worst that the best that will ever happen is that their prices will stall. Do you think I will ever have a point in my life where the price differential between say a 3rd growth and a 1st growth is narrow enough to justify buying some. Even many second growths are out of control now.
Look at small restaurants, they aren’t serving bordeaux superieur or bourgogne rouge as their house wine anymore. They go for cheaper argentinian and chilean wines.
Another informative video thank u!
This was a very good and interesting video, I'm sure you are right about your prediction. One thing that could soften the issue a bit is the low yealds of Bordeaux 22 and probably 23 being a very bad vintage, but the tendency for young people not drinking wine, combined with more and more countries entering the market is a bomb...
Very interesting times for the world wine trade. Your point of the anti drink lobby is very relevant here in Ireland too. Here, the government has brought in minimum prices alcohol can be sold at. Every year at budget time the trade hold its breath to see will the government hike the tax again. So even if the trade is trying to off load stock it will still be a high price.
Can you increase demands by keeping the price high? The market will keep getting smaller if the French get rid of the vines and less wine are available.
You increase demand by lowering prices. Most wine regions must cut production to balance supply and demand (Economics 101).
I drink both wine and distilled spirits, and it has been interesting to observe trends in both markets. Wine certainly isn't as "cool" as it once was, and I have noticed when I go to wineries and wine bars that the demographic of wine drinkers is aging. The distilled spirits scene seems healthier and younger, and there is more excitement. There are some signs of weakness in the bourbon secondary market, so maybe a downturn is coming there. (This would be a good thing - the bourbon market has been overheated to the point of absurdity.) However, tequila is booming, and bottles that used to be readily available are becoming allocated. There is a resurgence of interest in cocktails, including a craft cocktail movement. I have been moving more in the direction of distilled spirits. They are more convenient for me - an opened bottle can last for years - and as I get older, wine is starting to bother me a little more than it used to, while distilled spirits sit better with me. All of this makes me wonder how competition the wine industry is getting from distilled spirits. If bottled cocktails are becoming the gateway drink for young drinkers, further exploration of distilled spirits might be the next logical step in their booze journey.
like you said, people drink less but they drink better, thats why industrial wine is collapsing and when I say better, I dont mean the overpriced French wines. blocking cheap Spanish wines wont help France. but at the end of the day, do we really care about $5-10 wine industry? do we care that these big companies will collapse? I dont think we should. I say faster they collapse, better.
The big problem is fewer people are drinking wine. The bigger companies are getting more powerful because they have the capital to buy troubled estates at cheap prices. As the market gets smaller the big companies get a larger slice (market share) of that smaller pie. When the market expands again (hopefully in the future) they gain increased sales. Four large wineries account for 90% of sales from California.
@@winemoneysong you are correct,of course. but the way I look at it, there are several different layers of wine industry and these layers have almost no relationship with each other, even though they make same product. demise of one has almost no influence on other… market will expand but expenditure will not be based on curiosity and not cheap cabernet. thats my prediction :)
you should care about the 5-10$ wine industry because it's the gateway market for young adult wine drinkers who will eventually replace the older folks.
@@vinceslapchopper thats not true. young and hip dont drink super market trash. they try to drink less but unique and “true” wines. times of $6 Chards are been charted away.
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