New figures have shown the Ideal
Wine Company that fine wine prices in the US, known for the quality of its
California vintages, are set to rise in 2015.
From Bit Player to Up and Coming Behemoth
As a provider of first-rate
luxury vintages for a price that won’t break your bank balance, the Ideal
Wine Company strives to bring you fine wines from around the world. We have
several vintages from the US’s most famous wine-making region, California.
Once a bit player on the global
wine stage, the US is becoming known as an up and coming behemoth in the world
of wine making. As such it proved no surprise to the Ideal Wine Company when we
heard that US fine wine prices are set to rise in 2015.
US Fine Wine to Rise 14% - 18%
According to Wine
Searcher, the Silicon Valley Bank’s (SVB) annual State of the Industry
report revealed that US fine wine prices are set to rise 14% - 18% throughout
2015.
Defining fine wine as vintages
costing $20 or more, SVB went on to reveal that this comes despite three
successive large domestic harvests that have provided the industry with an
abundant supply of wine. They also argued that prices will increase despite
wine makers’ previous reluctance to charge more for their wares due to the
state of the economy.
“It’s the Economy Stupid!”
SVB executive vice president Rob
McMillan took the time to speak out on the revelation to Wine Searcher.
McMillan was quick to argue that "I really think it's going to be a
breakout year" for luxury wine in the US.
When asked what the biggest
indicator that the SVB’s prediction would bear fruit was, McMillan proceeded to
quote Bill Clinton; "it's the economy, stupid." The vice president
elaborated by suggesting that "restaurants are starting to be a little bit
more optimistic now," and "that's a big change. 35% of fine wines are
sold in restaurants."
Check out the Ideal Wine Company Product List
That could push the prices of US
fine wine up around the rest of the world. If you’re looking for a reasonably
priced US luxury vintage in 2015, make sure you take the time to check out the Ideal
Wine Company product list.
