A report from Silicon Valley Bank shows wineries had a very good financial year in 2021, but warns that the industry is still not doing enough to engage with new consumer segments.
Too Many Other Beverage Choice
Wine is also more expensive in restaurants, compared to beer or a cocktail. Stratton shared a chart showing how in 2021 many restaurants restocked their spirits inventory, but did not order much wine. The panel discussed that part of the reason is because the spirits industry does a great job of promoting and advertising their products, and wine needs to come together as an industry to do more of this.
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