Rob McMillan, EVP and founder of Silicon Valley Bank’s Wine Division, writes one of the wine industry’s most authoritative annual reports that assesses current conditions with street-level intelligence, and provides a unique forecast based on micro- and macroeconomic and behavioral trends.
In this report, Rob suggests the current business conditions are quite similar to the early 1990s when the boomers made their retail presence obvious, driving record wine sales for 25 years. We should expect the huge millennial generation, all over 21 years of age now and moving into their careers and higher-spending years, to do the same — but we are seeing the opposite. The wine industry’s sales growth has been muted for the past several years and is now close to moving into negative territory for the first time since 1993.
A webinar discussing these findings was hosted by Sillicon Valley Bank on Jan. 16, 2019.
The full report can be viewed here.