Research commissioned by the Wine and Spirit Trade Association has found that 60 per cent of regular wine drinkers would rather cut back on luxuries like chocolate, so they can splash out on a more expensive bottle of wine.
The results come a week after the Academy of Food and Wine advised waiting staff to avoid up-selling their more expensive wines during the credit crunch, in order to “remain sensitive to customer needs”.
But the survey of 1,000 people found that consumers believed the price of a bottle of wine had not risen as much over the last six months, as other items such as cheese, coffee, and poultry.
WSTA Chief Executive Jeremy Beadles said: "With household budgets feeling the squeeze it should be a source of some comfort to the trade that many regular wine drinkers will pause for thought before they cut back on wine purchases.”
The news comes on the day the London International Wine Fair opens at Excel. Almost 1,300 exhibitors from across the globe will present 20,000 different wines at the event over the next three days.
Highlights include a Top 100 tasting focusing on organic and biodynamic wines and a number of seminars and masterclasses for the trade, including Earth to Vine: Pairing Vegetarian Food and Wine.
For the first time this year, spirits will be presented at a separate event from wines. Distil will be in the hall opposite the LIWF in Excel.
For more information about the LIWF and the spirits fair Distil click here