Wine is expected to get a lot more affordable due to an oversupply of California grapes
Wine prices are projected to hit a five-year low in 2020 due to a surplus of California grapes and shrinking demand industry-wide, reports say.
Millenials‘ relative lack of wine consumption contributes to the decreased demand, but bargain prices could entice millenials to start buying more.Wine prices are expected to hit a five-year low this year thanks to a California grape surplus and a declining demand for wine,The wine industry is currently suffering from a decline in demand and the additional supply could lead to waste. For consumers, this means better bang for your buck.
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