UK snaps up Argentine wine in off-trade
The amount of Argentine wine being sold in the UK off-trade has increased by more than a quarter in the last 12 months, new figures reveal.
This news comes despite the UK wine industry as a whole selling less than the year before.
Wines from Australia, the US and Italy still account for almost half of all off-trade wine sold, but only Australia is still experiencing growth, the figures from the WSTA show.
“Having a range which appeals across the various life stages is key,” said Katy Carter, insight and brand manager for Cellar Trends. “Millennials are increasingly looking for brands which offer experience.”
Argentine wine experienced a 26% growth in volume sales in the last year.
For six quarters in a row, the nation’s industry has seen over 10% increases in the value and volume of wine sold in the UK.
In the last 12 months Argentina has sold 151,000 hectoliters of wine in the UK off-trade, the ninth most of any country.
In the same period it sold £116 million worth of wine in the UK off-trade, a 25% increase on the year before.
Ms Carter said: “Customers are increasingly looking for value for money, however, this does not always mean the cheapest offering.”
Argentine wine now sells at an average of £5.64 for a 75cl bottle, more than wine from Australia, the US or Italy.
Australia still sells more wine in the UK off trade than any other country, shifting 1.6 million hectoliters. It is also the only major wine producing country to see an increase in the value and volume of its wine sales.
Both Italy and the US faced 6% decreases in the amount of their wine sold off-trade in Britain, and 5% decreases in the value of those sales.
The wine industry as a whole has suffered a 2% decrease in the volume and value of both off trade and on trade wine sold.