Wine Intelligence CFO Richard Halstead provided comment for the BBC’s coverage of one of the fast-moving category of sparkling wine. Noting that women are plumping for Prosecco over Champagne, Richard added his insight to journalist Monica Rimmer’s article:
According to Richard Halstead from market researcher Wine Intelligence, the beverage could be described as the “phenomenon of the last five years”. He said it is “wildly popular” among women in their 20s and 30s who post pictures on social media of themselves clinking glasses and popping corks.
But cutting back on luxuries in favour of an affordable alternative started in the wake of the 2007 financial crash, according to Mr Halstead. “No-one sees the bottle, or pays much attention, so there was the easy trade-down from champagne [to prosecco] if you were hosting an event,” he says.
“If you can’t afford to go on holiday or go out to dinner, the idea of having a mini celebration with change from £10 is a strong pull,” Mr Halstead adds.
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