Treasury Wine sees improved outlook for luxury wine as profit falls // Spirits overtake wine as second most-popular drink

August 15, 2023 - Wine Industry Insight Daily News Feed

Becca Yeamans
August 15, 2023

Today’s Top Story

Treasury Wine sees improved outlook for luxury wine as profit falls

Australia's Treasury Wine Estates said on Tuesday it was well positioned to deliver growth in fiscal 2024 after the winemaker reported a 3.3% fall in annual profit, mainly hurt by lower sales in the United States.

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Spirits overtake wine as second most-popular drink

Nearly a third of US consumers choose spirits as their drink of choice, surpassing wine for the first time in 30 years, a new poll revealed.

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The biggest challenges facing global wine industry

Robert Joseph wine writer and wine producer sets out the biggest challenges and opportunities facing the global wine industry

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Wine Industry Insight Prime Sponsor

Just In Time! Harvest Compliance Training For Wineries

What is the most common missing link for wineries with their compliance? Plain and simple, the missing link is effective training. This results in records

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Alcohol use holding steady at 62 percent: Gallup

Americans’ alcohol use is holding steady at 62 percent, according to data from Gallup’s latest Consumption Habits poll. Gallup found most Americans reported they had “occasion to use alcoholic bev…

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The Latest Blow to the Inexpensive Wine Market (podcast)

Today on the "VinePair Podcast," Joanna and Zach discuss Ste. Michelle Wine Estates' decision to reduce grape purchases by 40 percent.

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Growing Your Business, Sales & Marketing

How Wineries Can Navigate the Ever More Complex Social Media Environment

As the algorithms change, keeping up with social media is becoming more and more stressful. Felicity Carter asks the experts how to navigate the changes. Reading time: 7m 30s

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Why AI Press Releases Might Help Your Business

Robert Joseph takes a fresh look at the potential usefulness of press releases, in an age when their most valuable readers might just be artificially intelligent robots. Reading time: 3m 30s

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Environment, Climate, Wildfires & Smoke

2 years after Caldor Fire, how a Placerville winery narrowly avoided flames

It's been two years since the Caldor Fire, which tore through the Foothills and Sierra, and prompted a historic evacuation of South Lake Tahoe, started.

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The Ahr Disaster: Two Years Later

Two years after the flood disaster in the Ahr region, much still remains to be rebuilt. For self-marketing vintners, the destroyed infrastructure hits harder than the loss of harvest. Susanne Salzgeber reports. Reading time: 2m 45s

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Recycling Rates in Europe. Glass Lags Behind in Germany.

Recycling rates vary widely across, and within Europe. Germany is doing better with paper and plastics than glass, for example. Reading time: 1m 15s

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Wine Supply & Consumption

“Swimming in wine” – navigating oversupply in Australia’s wine industry

Even early removal of Chinese anti-dumping tariffs would not be enough to prevent Australia’s wine industry facing several years of oversupply, Rabobank says in its newly-released Wine Quarterly Q3 2023 report.

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France pays winemakers to dig up vines

Red wine consumption in France has declined substantially in recent decades, in favor of beer and other beverages.

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Investing in Wine, Collecting & Auctions

South Africa’s wealthy have a taste for fine wine as luxury investments rise globally

Coins, cars, colour diamonds, and handbags have also seen increased investment from the world’s rich.

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V Foundation raises record $21 million during Napa Wine Celebration

Cancer research foundation celebrates 30 years by raising $21 million at Napa Wine Celebration.

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Wine & Health

Women Are Drinking More Alcohol and It’s Killing Them

New data show that more US women are dying from alcohol than ever before. Public health authorities need to adopt more effective strategies to help women realize when their drinking is a problem.

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Injecting a Gene Into Monkeys’ Brains Curbed Their Alcohol Use

Chronic drinking depletes the brain’s dopamine levels. A single dose of a gene therapy reset them, and stopped the craving for alcohol.

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Public Companies

Treasury Wine Estates prepares for potential re-opening of trade with China

CEO Tim Ford said shipping flexibility has been built into the second half of FY24 in case China's tariffs are lifted.

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New wine partnership between Constellation Brands and EuroVintage

The partnership relates to the distribution of Kim Crawford and Californian Wines in New Zealand.

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Today’s Most Interesting Wine Industry Data

“Drinkers’ alcoholic beverage of choice varies based on their gender, age, education and income level. Men are more than twice as likely as women to say they drink beer most often, and women are about three times as likely as men to say wine is their most common beverage.”

Source: Gallup

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Treasury Wine sees improved outlook for luxury wine as profit falls // Spirits overtake wine as second most-popular drink

August 15, 2023 - Wine Industry Insight Daily News Feed

Today’s Top Story

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Growing Your Business, Sales & Marketing

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Environment, Climate, Wildfires & Smoke

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Wine Supply & Consumption

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Investing in Wine, Collecting & Auctions

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Wine & Health

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Public Companies

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Today’s Most Interesting Wine Industry Data

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