"Especially Millennial consumers." Wedding bells "There is some indication that the younger consumer is just beginning to show some interest in wine," McMillan said. Assuming that everybody wants to drink this year, why would they choose wine? McMillan has been reporting for years that younger drinkers are choosing spirits or hard seltzers over wine. We can't turn the spigot on and make more wine." It occurred to me that the reason it dropped the next year for wine is that we drank everything. Then I saw a chart from the spirits producers, and didn't drop. The next year it dropped right back through the floor. In '47, consumption went through the ceiling.
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Bringing back people who knew how to make wine again. "It took a long time to get vineyards back in the ground. "In 1947, it wasn't that long after Prohibition," McMillan said. The term "roaring '20s" has been tossed around, but McMillan thinks a better parallel is 1947, shortly after the end of World War II, when American military members were back home, aware of their mortality, and taking part in a fast-growing economy.
That's a significant amount of money to throw at people." And on top of that, you have the stimulus from the federal government. People have the desire to buy things, and they have the capacity. The TSA is back up to pre-pandemic rates in processing passengers. "Every analysis I see just keeps talking about pent-up demand," McMillan told Wine-Searcher.
Related stories:īut now, McMillan, executive vice president of Silicon Valley Bank's wine division, said he expects wine sales to skyrocket over the next 12 to 18 months, with growth rates the industry hasn't seen in decades. That's the prediction from industry analyst Rob McMillan, and it's notable because McMillan has become best known in recent years for his gloomy long-term forecasts for wine. Strap yourselves in, US wine industry, because you're on a rocket ship that's about to blast off. | The sound of clinking glasses is likely to get louder and more frequent as the year goes on.
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