Why Millennials are good news for wine merchants

Buy wineView larger image

It's good to know your customer base, and for wine merchants the up-and-coming Millennial generation seem to be a very good base indeed.

According to a report from Wine Intelligence's Lulie Halstead, based on the US market, Millennials - currently aged around 21-34 - account for three in every ten regular wine drinkers.

Yet they consume 40% of the total quantity of wine sold in the US each year, meaning their consumption of the beverage is above average.

And their spending is higher still, totalling as much as half of all spending on wine across on-trade and off-trade premises.

Part of the reason for this is their preference for eating out, and so for paying more per bottle for the wine they buy in restaurants and bars.

But it underlines previous suggestions that this is a generation willing to pay a little extra per bottle in order to get wine they will really enjoy.

And for wine merchants the world over, that can only be good news as Millennials take their place as the generation with the biggest buying power.