Sales of wine over £7 up 16% in UK20th May, 2013 by Lucy Shaw
Volume sales of wines over £7 are up 16% in the UK as consumers opt to spend more on individual bottles, but less frequently on wine.
According to the latest figures from market analysts Nielsen, the average price of a 75cl bottle of wine has increased to £5.11, up from £5.03 at the end of last year, on the back of escalating taxation.
Though increasing wine prices don’t appear to be putting consumers off from trading up on wine.
“Just as many consumers are purchasing wine, but they are buying less of it. And when consumers do buy, they are trading up to higher price points.
“We’re seeing really strong growth with wines costing £7 and above, but we’re also seeing premium products grow in other areas, like vodka, gin and beer,” said Helen Stares of Nielsen.
“With the £5 price threshold being crossed, we would expect to see volume fall, but while retailers and producers may be selling less, if it’s at a more profitable price then surely this is good news?” Stares added.
In terms of the top countries exporting to the UK, Australia remains in the top spot, and in recent months has extended its lead over second placed Italy, having broken through the £1 billion mark.
France and the US remained in third and fourth place with sales of £765m and £686m respectively.
As for the fastest growing country for wine sales in the UK, Spain is leading the charge, with value sales up 17% to £538m.