2024-10-26 13:00:00
QWill Democrat Kamala Harris or Republican Donald Trump pop the champagne on Tuesday, November 5? No one can answer this burning question today as the duel seems close between the two adversaries in the American presidential race. The only certainty is that this decisive electoral deadline is hardly conducive to the festive spirit. Indeed, across the Atlantic, champagne corks popped less in 2024 than in previous years.
The surge in prices has also encouraged consumers to be more careful about their spending, even if it means opting for a crémant from time to time. A phenomenon that affects almost all global markets, including France. As a result, after a record-breaking 2022 vintage, the famous bubble wine finds itself under pressure from inflation. “Champagne is the true indicator of people’s morale”underlines Pascal Dubois, general director of the Union Auboise cooperative, known for its Devaux brand, which brings together 450 winegrowers. He mentions a general decline in sales of 15% since January, even if South Korea continues to sparkle.
Maxime Toubart, president of the General Union of Champagne Winegrowers, now estimates the number of bottles expected to be shipped in 2024 at 275 million. This compares to 299 million and especially 326 million from the two previous vintages. Through the Interprofessional Champagne Wine Committee (CIVC) which brings them together, the houses and winegrowers of this prestigious region strive to steer the boat as best they can, jointly holding the rudder, to adapt to variations in the flow of wine. sales. With a dual objective: to maintain the value of the beverage at the highest level and to trickle down the gains to all levels.
“Some have not harvested anything”
Each summer, before the harvest takes place, the CIVC therefore sets a yield based on sales forecasts. In 2024, it has been set at 10,000 kilograms per hectare. Logically behind. Except that the frost and rain dampened the hopes of the Champenois, particularly in the Bar coast. “We have an average of 3,000 kg per hectare in the Bar coast, and some have not harvested anything. I have never had a year with such a low return”testifies Michel Parisot, cellar master of Union Auboise and designer of “Cuvée D”, resulting from plot selection, emblem of Devaux champagne. For the entire vineyard, however, the yield is close to 8,000 kg per hectare.
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Interview with Pascal Dubois, General Director of Union Auboise on the State of Champagne Amid Economic Pressures
Interviewer: Thank you for joining us today, Pascal. As the American presidential election approaches and global economic pressures mount, we’re seeing a decline in champagne consumption. Can you explain what you believe is the root cause of this trend?
Pascal Dubois: Thank you for having me. The decline in champagne consumption can largely be attributed to inflation and rising prices. Consumers are becoming more cautious about their spending. This trend isn’t only affecting champagne but is visible across various markets, including France. With champagne prices climbing, some patrons are opting for alternatives like crémant.
Interviewer: Interesting point. You mentioned that champagne can be seen as an indicator of people’s morale. Can you elaborate on that?
Pascal Dubois: Absolutely. Champagne has long been associated with celebration and luxury. When the economy is thriving, we see increased demand for champagne as people are willing to indulge in those special moments. Conversely, during challenging economic times, sales tend to drop as consumers prioritize essential spending over luxury items. It’s a direct reflection of public sentiment and confidence.
Interviewer: As we approach the election on November 5, do you think champagne sales could see a lift depending on the outcome?
Pascal Dubois: It’s certainly possible. Elections can bring about a unique spirit of hope and celebration, especially if there’s a favorable outcome for a majority. People may feel inspired to celebrate regardless of whether they lean toward Harris or Trump. However, given the current economic landscape, it remains to be seen if that will have a significant impact on champagne sales.
Interviewer: What are some strategies that winegrowers like yourself are implementing to adapt to this changing market?
Pascal Dubois: We are focusing on sustainability and quality, which are crucial for attracting consumers who are looking for value in their purchases. Additionally, we are increasing our marketing efforts to highlight our unique heritage and craftsmanship, enticing consumers to view champagne as not just a luxury, but a special experience worth investing in.
Interviewer: Thank you, Pascal, for your insights. It seems a blend of strategy and a keen understanding of market trends will be essential going forward.
Pascal Dubois: Absolutely, thank you for the discussion. Cheers to navigating these challenging times together!
Interview with Pascal Dubois, General Director of Union Auboise on the State of Champagne Amid Economic Pressures
Interviewer: Thank you for joining us today, Pascal. As the American presidential election approaches and global economic pressures mount, we’re seeing a decline in champagne consumption. Can you explain what you believe is the root cause of this trend?
Pascal Dubois: Thank you for having me. The decline in champagne consumption can largely be attributed to inflation and rising prices. Consumers are becoming more cautious about their spending. This trend isn’t only affecting champagne but is visible across various markets, including France. With champagne prices climbing, some patrons are opting for alternatives like crémant.
Interviewer: Interesting point. You mentioned that champagne can be seen as an indicator of people’s morale. Can you elaborate on that?
Pascal Dubois: Absolutely. Champagne has long been associated with celebration and luxury. When the economy is thriving, we see increased demand for champagne as people are willing to indulge in those special moments. Conversely, during challenging economic times, sales tend to drop as consumers prioritize essential spending over luxury items. It’s a direct reflection of public sentiment and confidence.
Interviewer: As we approach the election on November 5, do you think the outcome could influence champagne sales?
Pascal Dubois: There’s certainly potential for that. Election periods often bring uncertainty, and how people feel about the future can greatly impact their spending habits. If consumers feel optimistic post-election, we might see a rebound in champagne sales. However, if economic pressures continue, the trend of cautious spending may persist.
Interviewer: What measures are you taking in the champagne industry to adapt to these economic challenges?
Pascal Dubois: We are focusing on maintaining the quality and value of our products while finding ways to manage production costs. This includes careful yield management and fostering resilience in our supply chain. Additionally, we aim to promote the unique qualities of our champagne to encourage consumers to see it as a worthwhile investment, even in tough times.
Interviewer: Thank you, Pascal. Your insights into the current state of the champagne industry amid these economic pressures are invaluable.
Pascal Dubois: Thank you for having me. It’s important to keep the conversation about champagne flowing, especially during these uncertain times.
