Sophisticated Boomers Demand Pricier Wines
Lina Ko January 21st, 2008
Last week The Canadian Press filed a news story that the LCBO is shifting its focus towards the more costly premium brands that have been driving sales in the last year. According to the LCBO, there is a growing sophistication in the marketplace and that’s global in nature – not just confined to Ontario. Sales in the over-$10 ranges have been growing.
According to the LCBO’s most recent annual report, sales of wines priced between $12 and $15 drove up sales $17.6 million. Wines priced between $15 to $20 jumped by 15 per cent, accounting for $64 million in sales for 2005-06.
The tastes of discriminating Ontario consumers are not just confined to wine. While sales of standard brand spirits declined by 1.4 per cent, sales of premium bottles jumped almost six per cent. People who used to buy blended scotch a decade ago are now being drawn to pricier single malts. The growth is pointing to higher-quality wines, spirits and beers.
While boomers are known to be enjoying life and seeking the best quality in everything, let’s not forget that in the grand scheme of things, wines priced between $12 and $15 are not rare vintage wines coveted by wine connoisseurs. This price range is still considered value for money. We should also bear in mind that as boomers age, they are even more health-conscious, and drinking in moderation becomes a priority. It will be interesting to see whether any research has indicated that boomers have traded up in quality, but have gone down in overall alcohol consumption to stay healthy!