"It's another good-news, bad-news year in fine wine. While we are quite optimistic about the future prospects in the US wine business, a combination of events will continue to hold back robust growth in 2013," said Rob McMillan, founder of Silicon Valley Bank's Wine Division and author of the report. "Economic uncertainty, slowing domestic GDP, lack of economic leadership worldwide, aging Boomers, and a heavy 2012 harvest provide headwinds against forecasting higher growth. Forces helping consumer demand start with improved hiring and better housing markets, which are critical to accelerating aspiring and mass-affluent consumer purchases. The first half of 2013 will prove more difficult than most expect, but the back half of the year should see improvement."McMillan is discussing the report and the state of the industry in a live broadcast with Paul Mabray of VinTank , Tony Correia of The Correia Company and MJ Dale of KLH Consulting at an online event today at 9:30 a.m. Pacific time. A replay of the discussion will be available here by January 18, 2013.
Silicon Valley Bank Forecasts 4-8% Sales Growth In Wine For 2013
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