US Wine Industry Enters Negative Growth Phase; Adoption by New and Younger Consumers Is Lagging  NAPA, Calif. – January 18, 2023 –Silicon Valley Bank, the bank of the world’s most innovative companies and the US premium wine industry, today released its 2023 State of the US Wine Industry Report. The 22nd edition of the annual report provides an assessment of the industry amid current market conditions and shares a unique forecast for the year ahead based on proprietary research and economic and behavioral trends among consumers. While the premium side of the wine industry experienced another strong year amidst an increasingly challenging marketplace – with revenue on average up 9.7 percent through September 2022 – the US wine industry as a whole experienced negative sales volume growth due to a decrease in sales of lower-priced wine. Silicon Valley Bank will host a live webinar with Silicon Valley Bank Wine Division founder and author of the

NAPA, Calif. – January 19, 2022 – Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today released its 2022 State of the Wine Industry Report. The 21st edition of the annual report assesses current conditions in the wine industry and provides a unique forecast for the year ahead based on proprietary research and economic and behavioral trends among consumers. While premium wine companies led the industry with the best sales growth since 2007 – and nearly 30% of wineries described 2021 as their best year in history – the US wine industry as a whole experienced a decline in sales volume and failed to take advantage of the tailwind of businesses reopening as COVID restrictions loosened. SVB will host a live videocast with SVB Wine Division founder Rob McMillan to discuss the annual report and state of the wine industry on January 19, 2021 at 9:00 a.m. PST with Amy Hoopes, Chief Strategy and Growth Officer, The W

I have an announcement to make! That's always been a phrase that makes me nervous. People don't walk into the room and grab a bullhorn to offer something trivial. What follows that remark will be something big, interesting, or important and hopefully welcome!  This utterance might precede a happy notification that a grandchild is on the way, someone is engaged, or perhaps that your new college graduate received an offer for the job of their dreams! But it's not always that way. I'll tell you the whole story over a glass of wine, but there was a day when I came into the living room of my then-girlfriend while everyone was watching Starsky & Hutch and announced that we were engaged! I expected congratulations! So I then turned to ask her father for his daughter's hand in marriage. He was pale and speechless. All he could get out was, no. So I have experience making announcements that go over like a lead balloon. Hopefully, I've learned and am better than

In the fall of each year, I pull apart the US Wine Industry into components and then analyze what's changed, review the trends, and make predictions in the Annual SVB State of the Industry Report. It's always a tedious effort that's been made more difficult over the past two years with the volume of channel shifting that's taken place. But I'm glad I put the time in each year as it's the only way to keep track of the movements of the business, and every year when I go through this process, I'm always surprised by something and this time was no different. In 2020 with tasting rooms and restaurants closed or restricted, wine sales moved into the grocery and drug channel. With the reopening of restaurants and tasting rooms in 2021, sales moved back to the old channels - but that doesn't mean the business environment was the same as it was before the pandemic.  In fact, if history is any guide, business never comes back the way we left it before a re

20th annual report indicates changes to wine sales in a post-COVID world Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today released its 2021 State of the Wine Industry Report. Now in its 20th year, this authoritative annual report assesses current conditions in the wine industry and provides a unique forecast for the year ahead based on proprietary research and economic and behavioral trends.  Highlights and predictions from the 2021 wine industry conditions survey and report: As the hospitality, travel and entertainment industries rebuild, there will be strong consumer demand and a bounce in overall sales that will gain momentum in 2021, but may not be sustainable into 2022. The wine sales growth rate across all price segments has been declining for many years. The wine industry will need a national marketing organization to deliver a unified consumer message. Price Overall bottle pricing should hold in both off- an

We're All Glad that Year is Over 2020 will go down as the year in which we answered the heretofore rhetorical question - What else can go wrong? That is the opening line from the 2021 SVB State of the Industry Report that will come out Wednesday the 13th.  Throughout 2020 many of us experienced the same run of emotions from disbelief, fear, acceptance, determination, and occasionally even a bit of joy through one of the most difficult times in history. As we went through the year, we would think to ourselves - this has to be the worst of it. It has to get better from here?  We all fought through a series of events, increasing our vocabulary along the way: Coronavirus, COVID, S.I.P. Orders, social distancing, Zoom meetings, herd immunity, PPE, and pandemic - which I thought only happened in bad science fiction movies before last March. Will 2021 Be Better than 2020? I can say with absolute confidence that 2021 will be better than 2020, but I can also say that &l

This is the opening photo from the 20th Annual SVB State of the Industry Report where we begin with a reflection; not on our industry, but on how we each as individuals adapted and prevailed during the most unique business conditions in our lifetimes.  It's important to celebrate this victory but now that vaccines are being given and we can see an end in sight, what's next? Will business conditions return to normal?  If we answer that question truthfully, the answer is no. That means doing nothing and hoping for a good year will produce poor outcomes. Change is needed and will require all wine businesses to apply the learnings from 2020 and evolve to find the unique prescription for your individual winey's success. This will be the first opportunity in 2021 to review the results from the Annual SVB Winery Conditions Survey in concert with the impact and magnitude of events that shaped 2020 and influenced the performance of our industry. During the videocast, we w

Wine Executive of the Year – to be announced November 11th on Winemag.com and celebrated in the December “Best of Year” issue LIVERMORE VALLEY, CA – October 16, 2020 –  Wente Family Estates is pleased to announce that President, Amy Hoopes has been nominated in the category of Wine Executive of the Year for the wine industry’s prestigious Wine Star […] The post Wente Family Estates President Amy Hoopes Nominated by Wine Enthusiast for Wine Star Awards appeared first on Wine Industry Advisor. Url:https://wineindustryadvisor.com/2020/10/16/amy-hoopes-nominated-wine-star-awards?utm_source=rss&utm_medium=rss&utm_campaign=amy-hoopes-nominated-wine-star-awards Published Date:Fri, 16 Oct 2020 19:22:05 +0000 

Annual report indicates oversupply and lower consumer demand will drive widespread discounting NAPA, Calif. – January 14, 2020 –– Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, released its 2020 State of the Wine Industry Report today. Now in its 19th year, this authoritative annual report assesses current conditions in the wine industry and provides a unique forecast for the year ahead based on proprietary research and economic and behavioral trends. Highlights and predictions from the 2020 survey and report: Acute oversupply will lead to widespread discounting and present the US wine consumer with the best wine retail values in 20 years. The 2019 harvest will likely produce normal to slightly-below-normal yields in California, and below-normal yields in Oregon and Washington. The lower yields won’t help with the oversupply, however. The large millennial population hasn’t yet begun to