Decanter reported that UK wine drinkers are cutting the amount they spend on a bottle, with price now the most important factor in buying wine, according to a new survey.
A WineIntelligence poll of 1,000 wine drinkers found that the number of people willing to spend £5–£6 on a bottle of wine had dropped by 5% in the past three months.
There has been a corresponding increase in those paying less than £5 for a bottle.
Pubs and restaurants have also registered a downturn in sales of more expensive wines. According to the survey, customers are buying more and more wines under £12 – again, there was a corresponding drop in the higher price levels.
The study, commissioned by the Wine & Spirits Trade Association (WSTA), also found that grape variety had been overtaken by price promotions as the most important factor for consumers in choosing wines.
Jeremy Beadles, chief executive of the WSTA, said the impending economic crisis was to blame.
Retailers have reacted by focusing on value for money wines. ASDA, the fastest-growing wine retailer in the UK, recently announced an exclusive value-for-money wine deal. ASDA indicated that the new value-for-money range will be launched under the Arniston Bay brand. This easy drinking South African wine will launch 3 wines exclusively to ASDA.
The exclusive The Reef range includes: The Reef Red 2007, The Reef White 2008 and The Reef Rosé 2008.
“The Reef is a wine range which represents really great value for money,” said brand and business development manager Barney Davis.