Champagne Sales Sink As People Avoid Celebrations: CNN

Champagne sales have lost their sparkle as people around the world show little interest in saying “cheers,” Jordan Valinsky reported for CNN.

The report revealed a bleak outlook for the champagne industry, consistent with declining sales in other alcoholic beverage categories.

The total number of Champagne shipments from France dropped nearly 10% last year to 271 million bottles, marking the second consecutive year of decline. Inflation-weary consumers have cut back on spending, and a pervasive global gloom continues to dampen spirits.

These trends were detailed in a new report from Comité Champagne, a trade association representing more than 16,000 winegrowers and 320 Champagne houses.

The report revealed a bleak outlook for the industry, consistent with declining sales in other alcoholic beverage categories.

Maxime Toubart, co-president of the organization, candidly stated, “This is no time for celebration, with inflation, conflicts around the world, economic uncertainty, and a political wait-and-see attitude in some of Champagne’s biggest markets,” including the U.S. and France.

In France, domestic sales of Champagne fell 7% to 118 million bottles. The industry attributed this drop to the country’s prevailing gloomy political and economic climate, compounded by a snap election last summer that resulted in a hung parliament.

French luxury conglomerate LVMH had already signaled in July that 2024 would be a tough year for Champagne, reporting a 15% decline in bubbly sales during the first half of the year.