Afternoon Brief, December 21st

Not Much Cheer for Wine Sales This Holiday Season: The post-pandemic slump in wine sales continued into the third quarter of 2023, as consumers remain skittish because of inflation and economic uncertainty. There have not been any clear signs of improvement as we enter the crucial holiday season, as the pace of the decline has been reasonably steady over the past 12 months...

The inaugural report highlights unprecedented shifts in wine ecommerce and fulfillment over the past year, and elaborates on WineDirect’s roadmap for the future of its platform and services. October 21, 2020, Napa, CA – A report released today by WineDirect underscores their clients’ dramatic shift to online sales channels this year, with increased revenue and order volume. With the critically important holiday sales season underway for wineries, the report powerfully highlights the incredible opportunities of ecommerce for an industry facing unprecedented challenges.   Despite the impacts Covid-19 has had on the wine industry since March 2020 — from operating at highly limited capacity to indefinite closures — WineDirect clients have seen higher revenue and substantially more orders than last year. Wineries partnering with the company for ecommerce sold $1.7 billion worth of wine direct-to-consumer (DTC) between October 1, 2019 to September 30, 20