Germany: Wine sales fall amid cost of living crisis
German consumers are buying less wine in the face of the cost of living crisis, the German Wine Institute said on Monday.
The institute said households bought 10% less wine last year. That led to a 6.5% drop in sales, according to consumer research firm Nielsen IQ.
Wine consumed in restaurants or other establishments is not included in the figures.
The director of the German Wine Institute, Monika Reule, said: “Due to the loss of purchasing power caused by the rising cost of living, household purchases have focused on products that are absolutely necessary.”
Average price of wine rises
The average retail price of German wines rose to €4.18 ($4.47) per liter in 2022, representing an increase of 26 cents or 6.6% from last year’s prices.
The price increases were due to higher glass, packaging, logistics and personnel costs.
Imported wines showed a much more modest price increase in 2022, with a rise of 7 cents bringing the average price to €3.64 per litre.
The quantity of national wine dropped 14% and sales 8%.
German wines lost 1% of market share, falling to 44%. Italian wines also lost 1% and Spanish wines gained 2%, reaching 12% and 14% market share respectively. French wines maintained the 11% share they had in 2021.
The German Wine Institute said organic wine represented an exception to the downward trend.
White wine remains the most popular variety, with an unchanged 47% volume share. The share of red wine dropped from 41% to 40%, with rosé rising from $12 to 13%.
This report was written in part with DPA material.
Edited by: Amanda Rivkin
Source: DW
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.