The Silicon Valley Bank is predicting that wines sales will begin taking a hard hit as the Baby Boom generation fades. About 44 percent of sales are made to those between 48 and 65 years old.
With 11,500 of them retiring every day, it's not hard to do the math. I am among those boomers who stopped massive wine purchases when I retired on a fixed income. I'm feeding off my cellar now and quite contently.
Winemakers have been bragging about increased wine sales, but I bet those numbers are about to peak. Generation X, Y and Millennials simply aren't buying wine at the same pace as their elders.
The wine producers who may be hurt the most are those whose wines are pricey. I just can't imagine new generations forking over $50-300 for a bottle of wine. It's just not in their nature.