Time to fill your wine cellar.
is dropping fast. In fact, pretty soon, experts expect it will hit its lowest price levels in five years, mostly due to the simple economics of supply and demand.
In case you failed economics 101, the model of supply and demand often sets prices. If there is a large supply of something and not much demand, prices will drop. If there is a huge demand, and not enough supply, prices will increase. Based on this model, prices usually set somewhere in the middle where supply and demand are equal.
The expected surplus means that prices will drop, and wine drinkers can get more bang for their buck. Experts expect this cheap wine trend will last up to three years — so no better time to fill up that wine cellar. “The main cause of oversupply today is the culmination of a few years of slowing wine shipment growth, with an ample 2018 wine grape crop as an exclamation point,”. “Until 2015, wine shipments had grown, almost predictively, for two decades. The slowdown in growth has caught the industry by surprise.”
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