Feature Article from the September 2011 Magazine Issue
Wine's Economic Indicators Rose Before Stocks Crashed
by Wines & Vines staff
Symphony IRI reported that domestic wine sales at major food and drug stores grew 9% in July over the same period last year.
Cabernet Sauvignon continued to dominate varietal market share for domestic wines shipped direct to consumer (top) while all major varietals grew in sales value (below).
July data—gathered just before the stock market plunged during the second week of August—showed a strong wine economy in terms of sales and winery hiring activity. Retail domestic wine sales for the most recent four weeks grew at a rapid 9% pace over the same period last year, while direct-to-consumer shipments and the winejobs.com Index also grew over last year.
Shipments of DtC wines in July, slow due to warm seasonal weather, still beat July 2010 shipments by 6% in value.
The Winejobs.com Index of hiring activity in the wine sector stayed 5% ahead of last year's pace for July.
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