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

Looking back at 2021, there was a lot of cause for celebration in wine industry – from tasting rooms reopening to marquee mergers and IPOs. Fifteen percent of wineries described 2021 as their best year ever! As we look forward, we see opportunities for savvy operators but perils for those who ignore the now obvious signs of change. This year, we will make a proposal that could change the industry for decades to come. Silicon Valley Bank invites you to join us on Wednesday, January 19th for a live, virtual event to review findings from the new 2022 State of the Wine Industry Report. Our distinguished panel of industries luminaries will reveal observations of the current state, offer predictions on the future of the industry, and deliver insights into consumer change that will enhance your opportunity for success in 2022 and beyond. We will cover topics including: Why spirits are taking market share from the wine industry, despite pockets of success How evolving sales channels crea

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