Prosecco Bubbling Over While Champagne Is Basically Flat In U.S.December 31, 2013
When U.S. consumers raise a glass to celebrate the New Year tonight, chances are better than ever that they’ll be doing so with Prosecco. The Italian sparkler continues to grow rapidly in the U.S. market, while longtime New Year’s Eve stalwart Champagne struggles. Prosecco sales were up by 38% for the year through December 1, according to IRI, while Champagne inched up by only 0.8% during the same period.
The Prosecco boom has been driven in part by its competitive pricing. IRI reports that the fastest growing price segment for sparkling wine is the $13-$18 a 750-ml. range, in which a host of leading Prosecco entries can be found. Champagne’s biggest brands, meanwhile, are priced significantly higher.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.