Consumers are willing to spend more on a bottle of wine than ever but drink a little less, according to a new report.
Bibendum's "state of the industry" report for summer 2013 has found that the industry is heading towards a two speed wine market, where entry level wine is competing with beer and cider and premium wine being preferred otherwise.
It said that in a retail environment consumers are willing to spend more on wine, and that hospitality operators could make the most of this trend by using fixed cash margin rather than large percentage markup to provide better value for money and encourage sales.
Though 52% of people said they drank less wine in a pub or restaurant, they were likely to go for more expensive bottles.
Meanwhile, the report identified that wine on tap is gaining favour among operators.