Column: Arbor Vinous
Joel Goldberg
Champagne price wars? Sacre bleu! What blasphemy!
But recessions produce unexpected consequences. The New York Times – while observing that “bargains are a crass notion for the industry, which carefully cultivates its image of luxury and glamour” – nonetheless reported recently that U.S. retailers are starting to discount high-end Champagne labels.
Price decay has already spread downmarket in Britain, where consumers are reaping the benefits from a glut of unsold bottles in Champagne’s massive underground caves. A full-throttle price war rages at the lower end of the market, and brand-name Champagne under $20 is the new normal.
Are we likely to see such dramatic price cuts locally? No bets – but in an early bellwether, Costco recently dropped the price on its Kirkland Champagne by $4, to $22. That nabbed it a spot in the Vinous Posse’s holiday roundup of under-$25 bubblies. [Full Story]
