UK's biggest wine retailer predicts an "unusual" year ahead
The UK’s largest wine retailer has been looking into its crystal ball and predicting an “unusual” year ahead, as part of its trends report.
According to Majestic Wines buying director Richard Weaver, “magnums are big news”. The retailer reported that in 2017 so far, it has already experienced a massive 378% increase in year on year sales of super sized bottles under £20, with roses and house reds in 1.5 litre measures proving most popular.
And consumers looking for bargain wines from South America are going to be disappointed, as abnormal weather in the region has resulted in low yields. In the near future, the emphasis for Chile and Argentina is likely to shift from quantity to quality, said Majestic.
However, Eastern European wines have proved consistent in the face of poor western harvests and are stepping in to fill the gap. Majestic’s sales of wine from the region were up a staggering 1365% year on year in the £5 to £10 bracket in 2017.
The company said that early reports are that Hungary’s harvest is down only 3%, compared to an EU wide average drop of 14%, while Romania is looking forward to a 60% increase in the size of its harvest.
Sales of Prossecco, meanwhile, are still booming, though Majestic warned that another tricky harvest in northern Italy, where some yields are down by as much as 30% could hit supplies. As a result, the retailer predicts that sparkling wines from Sicily or Central Italy will become good value alternatives to stave off potentialprice increases.