In 2023, inflation slowed down the boom in champagne sales in the world
Kyiv • UNN
After a record sales year in 2022, champagne sales fell by 8.2% to 299 million bottles in 2023. The Committee of French Champagne Houses attributes this to high inflation and the large inventories that distributors have had since 2022.
After an exceptional year in 2022, when champagne producers were able to achieve record sales, 2023 saw a slowdown in growth.
This was reported by UNN with reference to the Belgian economic publication De Tijd.
Details
Champagne producers sold fewer bottles in 2023, which was a "return to normal" year in terms of volumes, after a record-breaking 2022.
After three extraordinary years, champagne sales have returned to pre-corona crisis levels
Compared to 2022, the number of bottles sold last year fell by 8.2 percent to 299 million.
In 2023, sales fell in the European market. For example, in the French market (127 million bottles). There was also a slowdown in other countries (172 million bottles). The Committee of French Champagne Houses attributes this to high inflation, which forces families to pay more attention to their budget.
In addition, the large stocks that distributors accumulated in 2022 play a role in foreign markets.
At the same time, the success of more expensive cuvées (the term has two meanings: 1) the first soft pressing of juice. 2) an outstanding blend, a mixture of different wines or varieties - ed.), especially in exports, has allowed the champagne sector to maintain a total turnover above 6 billion euros (in 2022, the turnover exceeded this mark for the first time).