Marketing Summary

588 WordsJul 28, 20143 Pages
Market Summary Wine consumption is on the increase in the United States. In 1998, wine beat out coffee as the favorite meal time beverage. In the wine industry this is phenomenal. As the population is aging, the wine demand is tremendously boosted. Per capita, consumption of wine increases with age, with consumers younger in age drinking only 6.6 bottles per year. Consumption peaks at 16.4 bottles annually among adults 50-59 years old. Baby boomers, more than any other previous generation, view wine as a simple, affordable luxury. Given that the strongest growth in population over the next 10 years will be among these adults, who currently consume about 40 percent of all wines. "The aging demographic transformation is going to continue for the next 15 years, and the traits of this population as they shift into their older years of life fit wine to a ‘T'" (www.bplans.com). Interestingly, their children, today's echo-boomers, make up another population group that will experience rapid growth over the next decade. U.S. sales of wines priced at $10 to $14 a bottle have climbed 14 percent over the past 12 months, and sales at $25 a bottle (and up) have grown 18 percent. The trend is expected to continue. The number of wineries has multiplied from 55 in 1985 to 306 today in New York alone. This has created many jobs, investments, new tourism and of course new taxes for New York. The wine industry generates more than $3.76 billion annually in economic benefits to the State of New York. To help to get my winery started and established, New York provides funding through the state that matches the private sector dollars. Today the grape and wine community is the strongest growing industry of the agricultural and tourism sectors, which are major parts of New York State’s economy. Annual Economic Impact: $3.76 Billion New York’s grape juice and wine products,

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