Champagne sales dropped this year and French industry executives believe the world is suffering through a malaise with fewer things to celebrate.Business Insider. “Chief financial officer Jean-Jacques Guiony thinks it could come from fewer celebrations for people to pop the bottle.”
“Champagne is quite linked with celebration, happiness, et cetera,” LVMH CFO said on an earnings call. “Maybe the current global situation, be it geopolitical or macroeconomic, does not lead people to cheer up and to open bottles of Champagne. I don’t really know.” “During the first half of this year, Champagne shipments decreased by 15.2% compared to 2023,” the report adds. This drop is “attributed to economic uncertainty and inflation affecting consumer spending, said David Chatillon, chairman of the Champagne Houses lobby.”A waiter serves Champagne in one of the single compartment inside the train Belmond Venice Simplon Orient Express luxury train.
Popping a cork is a group thing. Fewer and fewer people are into group things. Even within groups, everyone’s staring at their phone.
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Champagne sales slump due to lack of 'celebration' and joy in the world, industry execs sayDemand for LVMH’s Champagne brands is drying up after surging during the COVID-19 pandemic. The CEO of Moët Hennessy noted that there was a “general sense of revenge pleasure” among consumers after being stuck at home. However, with the effects of COVID-19 fading and rising inflation, Champagne consumption at home has dropped.
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