The Oregon wine industry is rebounding from a price-cutting trend brought on by the recession.
The Oregon wine industry is rebounding from a price-cutting trend brought on by the recession.
When consumer spending plummeted during the recession, higher-quality reserve wines were often mixed with less expensive wine to move the product, said Rob McMillan, executive vice president and founder of the Silicon Valley Bank’s wine division.
Wine producers now report more confidence that they can raise prices on higher-end wines, betting that consumers will trade up to continue drinking a high-quality product, he said.
Read more at Capital Press.
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