Less champagne sold: sales of luxury bubblers fall

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The development of business figures for the prestigious sparkling wine looks like a roller coaster: in the Corona year 2020, sales fell by 18 percent, with 326 million bottles sold in 2022 alone; this was the third best value since 1999.

Comité Champagne traditionally presents last year’s figures in mid-January. It announced sales of 299 million bottles for 2023, which means an 8.2 percent decrease in sales compared to 2022.

High sales despite falling sales

In France in particular, consumers were less likely to drink champagne. Stating that inflation affects the domestic market more than export markets, the committee analyzes the decline in sales.

Approximately 57 percent of Champagne production is exported. Ten years ago, this rate was 45 percent. The main export market is the USA. Switzerland was in eighth place in 2022. The committee also explains the decline in the export market as traders making panic buying out of fear of shortage in 2022. This situation led to excess stock.

However, sales figures remain stable at a high level. Champagne producers reached a record sales figure of 6.3 billion euros in 2022. The committee expects approximately 100 million euros less for 2023.

Book wines as price factors

The reason for the high price level is the increase in the value of the product. Many champagne houses work with reserve wines. These long-aged wines give Champagne cuvée finesse and shape a brand’s unique style.

Up to 50 different wines can be stored in the deep cellars of a traditional company. In barrels, steel tanks and also in 50 liter glass demijohns. This ties the capital to the title of the world’s most valuable.

Sales also decreased in Switzerland

Swiss wine merchants who trade internationally have been feeling the decline in sales for several months. Consumers are pulling back and the catering industry is also reluctant to commit money, one vintner says in an interview with Blick.

2024 will not be an easy year for Champagne. Presidential elections in the most important export country are in November. With Trump in the White House, punitive tariffs on champagne may become an issue again.

Source : Blick