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11/12/2014

Over-65s spend less than £4.99 on wine

New research from Wine Intelligence suggests that 28 per cent of over-65s spend £4.99 (A$9.40) or less on a bottle of wine for a party or celebration, compared with 15 per cent of under 35s.

The survey, conducted among 1,000 UK regular wine drinkers, also found middle-aged wine consumers were least likely to take cheap wine to a party. Just 13 per cent of 45–54s said they would spend less than a fiver on party wine. 

Lulie Halstead, Wine Intelligence chief executive, said wine consumers over the age of 65 tend to have a much clearer idea of the type of wine they like, and they seek out the best value they can within that.

“With a high proportion of retirees in this age group, it’s more likely that they have time to shop around, and many would also face the constraints of a fixed income,” she said.


In comparison, young wine drinkers were happy to splash out for parties. The survey found over 30 per cent of under-35s would spend £8 (A$15) or more on wine for a party at home, compared with only 17 per cent of over 65s.

“We do know that younger consumers tend to use price as a way of reassuring themselves that the wine is good enough to share with others, particularly if they are less experienced in the category,” said Halstead.

“Younger consumers tend to buy their wine at convenience stores and high street off-licences, where prices are generally higher, while older consumers tend to use larger supermarkets to make their wine purchases.”

The survey could not conclude whether the low-spending tendencies among older wine consumers is simply a function of income, stinginess, or is driven by more experience of shopping for bargains in the wine category.

The research was void of regional stereotypes, concluding that where wine drinkers lived had no influence on the price paid for party wine. Income was a contributing factor, however it was not as influential as age.

 

 

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