Taste for qual­ity

Hong Kong Tatler - - Life Wine -

Con­sump­tion in the US of fine wines priced above US$20 is ex­pected to in­crease by around 10 per cent this year, while low-priced generic jug wines are set for a de­cline, ac­cord­ing to an in­dus­try re­port re­leased by the Sil­i­con Val­ley Bank. As a re­sult, 62 per cent of US win­ery own­ers are plan­ning to in­crease prices this year, the sur­vey found. How­ever, mil­len­ni­als, who now buy 16 per cent of fine wines sold in the US, don’t have the same strength of al­le­giance to do­mes­tic wines as baby boomers and their par­ents, the re­port says.

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