Silicon Valley Bank: The US wine industry will bound back in 2021

The US wine industry is poised to bounce back in 2021, according to a report by Rob McMillan, Founder, Silicon Valley Bank, with a consumer desire to celebrate set to help drive wine sales this year.

Silicon Valley Bank’s 20th annual review of wine industry prospects predicts that temporary gains will yield to long-term declines. The report raises doubts that this year’s expected sales momentum will carry very far into 2022.

Wineries that have established strong direct-to-consumer sales during the Covid-19 pandemic, as well as online retailers, can expect more gains in 2021, the report says, while bricks-and-mortar retailers, urban-based grocers and restaurants will take years to recover.

Restaurants will drastically need new investment to survive or to re-appear. Yet, the report predicts a quick recovery for the industry as a whole, although the relative importance of individual sales channels will shift dramatically.

Online wine retailers had major growth in sales during 2020, and that is expected to continue into 2021. This channel, and wineries’ own online efforts, “will represent 20% of an average winery’s sales within five years,” the report predicts.

McMillan stressed that wineries, in spite of the loss of tasting room sales, are not in the same financial straits as restaurants. “Wineries seldom go bankrupt,” he said, “even if they are over-leveraged. If they have financial problems, there’s always a willing buyer.”

One problem that was lurking in the US at this time last year, according to the report, was an over-supply of wine. But damage to crops from last year’s fires and smoke, as well as diminished tasting room sales, resulted in supply now being back in balance with demand.

However, one problem that has not gone away is the changing ages of wine drinkers. As Baby Boomers continue to retire, they are being replaced by younger drinkers with different agendas.

While the decrease in demand by Boomers for wine purchases at all price levels has not been as precipitous as once predicted, the decline is not being offset by younger drinkers, who often see better value in craft beers and in spirits.

“The digital world parallels the real world,” McMillan said, “and the new consumer is not one who wants to rely on advice from most current sommeliers. We need to consider the values of younger drinkers, and they value things in the wine world differently.”

Download the full report

https://www.svb.com/trends-insights/reports/wine-report

New Zealand Winegrowers Announce Inaugural 2021 Wine Week

The New Zealand Winegrowers has just revealed details its inaugural New Zealand Wine Week, which kicks off February 8th, 2021 as a virtual event.

With activities planned across the USA, UK, Ireland, and Canada, there is a wide-range program including tastings, discussions, and online activities, including ‘Challenging the Myths around Food Miles.’

The events have been designed to explore New Zealand’s wine story showcasing its “premium, sustainable, and diverse wines”, states NZW.

They will also offer participants the opportunity to participate in live discussions with leading wine voices from around the world.

“In these challenging times we are delighted to be able to work together across our key Northern Hemisphere markets to bring a wide range of valuable intel and insight from renowned speakers,” said Charlotte Read, general manager, marketing.

“We aim to shine a light on many aspects of New Zealand wine during this week and show that even though we can’t physically be together, we can raise the profile and celebrate New Zealand wine with our trade and media audiences,” she added.

Other activities include: ‘What’s New… What’s Next!?’ – a winemaker led panel discussion seminar exploring behind the scenes in New Zealand wine cellars;  ‘Pinot Noir Soils’ – a webinar delving into the different regions that excel in growing Pinot Noir; Syrah Masterclass – exploring the diverse styles and regional expressions with Rebecca Gibb MW; New Release Self Pour – a guided self-pour tasting to explore a set of new releases from New Zealand; and Instagram Lives with Dr. Jamie Goode plus several New Zealand winery personnel to explore different facets of New Zealand wine.

As part of the week, an online New Zealand wine catalog will also be launched, aimed at trade-based in US, UK, Ireland, and Canada, which will provide a service whereby customers can browse participating winery profiles and compare varieties, price, channel, and availability in each market.

For full details and registration

https://www.nzwine.com/en/events/new-zealand-wine-week/

 

Save the Dates: 2021 International Wine Days to Celebrate!

To help you plan for 2021, I created a list that you can bookmark. The list, which isn’t exhaustive, is comprised of important national or global wine days (dates may be subject to change) with relevant hashtags. This is a great starting point to assist you in planning fun and engaging posts on social platforms. If I missed any or if there are any new dates for 2021, please let me know. Cheers!

January

Dry January

February

February 1, 2021 – National Furmint Day [#furmintday]

February 16, 2021 – Syrah Day [#syrahday]

February 18, 2021 – Global Drink Wine Day [#globaldrinkwineday]

February 27, 2021 – Open That Bottle Night [#openthatbottlenight]

March

March 3, 2021 – Mulled Wine Day [#mulledwineday]

March 13, 2021 – Riesling Day [#rieslingday]

April

April 14, 2021 – Tannat Day [#internationaltannatday]

April 17, 2021 – Malbec World Day [#worldmalbecday]

April 23, 2021 – International Cava Day [#cavaday]

April 27, 2021 – Marselan Day [#worldmarselanday]

May

May 7, 2021 – International Sauvignon Blanc Day [#sauvblancday]

May 9, 2021 – World Moscato Day [#worldmoscatoday]

May 25, 2021 – National Wine Day [#NationalWineDay]

May 27, 2021 – International Chardonnay Day [#internationalchardonnayday]

June

June 5, 2021 – National Bubbly Day [#nationalbubblyday]

June 19, 2021 – Drink Chenin Blanc Day [#drinkcheninblancday]

June 21, 2021 – World Lambrusco Day [#lambruscoday]

June 25, 2021 – International Rosé Day [#roseday]

July

July 22, 2021 – Shiraz Day [#shirazday]

July 25, 2021 – National Wine & Cheese Day [#NationalWineandCheeseDay]

August

August 1, 2021 –World Albariño Day [#worldalbarinoday]

August 4, 2021 – National White Wine Day [#nationalwhitewineday]

August 13, 2021 – International Prosecco Day [#proseccoday]

August 18, 2021 – International Pinot Noir Day [#pinotnoirday]

August 28, 2021 – National Red Wine Day [#nationalredwineday]

August 30, 2021 – International Cabernet Sauvignon Day [#cabernetsauvignonday]

September

September 2, 2021 – International Cabernet Day [#CabernetDay]

September 3, 2021 – National Chianti Day [#NationalChiantiDay]

September 17, 2021 – International Grenache Day [#GrenacheDay] 

October

October 5, 2021 – World Vranec Day [#worldvranecday]

October 6, 2021 – Orange Wine Day [#orangewineday]

October 9, 2021 – International Pinotage Day [#pinotageday]

October 15, 2021 – Champagne Day [#champagneday]

October 28, 2021 – Carignan Day [#carignanday]

November

November 1, 2021 – International Xinomavro Day [#xinomavroday]

November 7, 2021 – International Merlot Day [#merlotday]

November 11, 2021 – International Tempranillo Day [#tempranilloday]

November 17, 2021 – National Zinfandel Day [#zinfandelday]

November 18, 2021 – Beaujolais Nouveau Day [#beaujolaisnouveauday]

November 24, 2021 – Carmenère Day [#carmenereday]

December

December 4, 2021 – Cabernet Franc Day [#cabfrancday]

December 10, 2021 – World Aszú Day [#aszúday]

December 20, 2021 – Sangria Day [#SangriaDay]

Christmas Wine: Chateau Palmer 2001

Christmas Wine: Chateau Palmer 2001

Margaux, France
Merlot 44% Cabernet Sauvignon 51% Petit Verdot 5%

Tasting Notes:
Stunning deep ruby; introverted nose at first instance and slowly opens up revealing various wood and spice aromas  with hints of ripe black fruits and mocha; on the palate the fruit is exquisite, with hints of herbs and tobacco, the tanks are subtle; good structure, well balanced and mellow long finish.

[decanted 2 hours before]

Ready to drink but still can keep for a few more years

93 points

#wine #redwine #bordeaux #bordeauxwine

#chateaupalmer #christmaswine #investmentwine #wineinvestment

#wineinvestor #christmas #womeninwinetalks #womeninwine

Auction Update:   Les Dames d’Escoffier Ontario “Festive Gift Basket” Fundraiser-Auction 

We are excited to announce that our Les Dames d’Escoffier Ontario “Festive Gift Basket” Fundraiser-Auction has raised over $1,000.00 as of this morning!   

To place a bid, you will be asked to create a login using an email address and password. Verify your email and you’re good to bid. Scroll through all the offerings and place your bids! Once the bid is submitted, you will get email updates, so you don’t miss out on your favorite item/s!

https://www.32auctions.com/LesDamesON

The auction closes in two days!!!

Here are three ways you can help:

1. Bid Now!  Your generosity will help fund 2020/2021 student educational scholarships and bursaries.

2. Tell friends about our auction and others who might like to participate.

3. If you don’t see anything you like, you can still contribute by using the green “Donate” button on the upper right-hand corner of the auction site.

The bidding ends at 5:00 p.m. December 12, 2020.

Auction website:

https://www.32auctions.com/LesDamesON

Thank you for your participation and support!

#wine #winelover #fundraiser #womeninfood #fundraising #giftbaskets #Toronto #Torontoevent #onlineevent #auction #womenwhoauction #donate #nonprofit #community #giveback #philanthropy #instagood #socialgood #nonprofitorganization #luxurygiftbaskets #giftideas #holidaygift #christmasgift #onlineauction #corporategifts #givingtuesday #Torontolife