Wealthy Consumers Willing To Pay For Premium Wine

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    More than two-thirds (70 per cent) of wealthy U.S. consumers, under the age of 50, drink wine at least once a month and they’re willing to pay premium prices for preferred vintages – an average of $48 per bottle at retail and $64 at a restaurant. These are among findings of the Luxury Institute’s ‘Luxury Brand Status Index (LBSI)’ premium wines survey. Consumers 21 and older from households with income of at least $150,000 a year evaluated 20 premium domestic wine brands on the degree to which each embodies the four ‘pillars’ of brand value: superior quality, exclusivity, enhanced social status, and an overall superior consumption experience. Respondents also reveal which wines are worth paying premium prices, which they would recommend to people close to them, and which brand they will buy next. Ghost Pines topped the list, followed by Mount Veeder, Meiomi, Bridlewood, and Edna Valley.