Champagne sales slump as fizz fans find little to cheer
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Champagne demand slumped last year as consumers across the world felt there was little to celebrate. The grim verdict came from Maxime Toubart, president of the Syndicat Général des Vignerons, the growers' trade union in the French region. He said: 'Champagne is a barometer of the state of mind of consumers.
'It is not time to celebrate given inflation, conflicts, economic uncertainties and political wait-and-see in some of the largest champagne markets.'. Shipments fell 9.2 per cent last year compared to 2023, to 271.4m bottles, according to trade association Comité Champagne.
Little to celebrate: Shipments fell 9.2 per cent last year compared to 2023, to 271.4m bottles, according to trade association Comité Champagne. Subdued appetite from consumers triggered French producers to cut the number of grapes harvested last July.
Fizz fans have instead turned to cheaper alternatives such as prosecco and English sparkling wine. It comes as luxury companies – including LVMH, the owner of Moet & Chandon, Veuve Clicquot, and Dom Pérignon – grapple with a slowdown. LVMH is expected to provide an insight into the health of the market when it updates investors next Tuesday.
