When we see the political and economic situation in bad shape, we don’t celebrate. Champagne is a “barometer” of happiness, and producers are worried.
The total number of champagne exports from France fell by around 10% last year, to 271 million bottles, the second consecutive year of decline in this sector, reports .
The points out that “economic and political anxiety diminished the festive atmosphere”. Will it really be like that? Is the world so upside down that we no longer want to celebrate life with the quintessential festive drink?
Maxime Toubart, co-president of the Comité Champagne, and leader of the wine producers’ union in France, says that “Champagne is a true barometer of consumers’ mood“.
Therefore, “this is not the time to celebrate, with the inflation, conflicts around the world, economic uncertainty and a wait-and-see political attitude in some of the biggest champagne markets.”
“Champagne is closely linked to celebration, happiness, etc.”, also assures the financial director of LVMH, Jean-Jacques Guionyin a results conference. “Perhaps the current world situationwhether geopolitical or macroeconomic, don’t get people to cheer up and open bottles of champagne.”
In France, for example, in 2024, the year in which early elections had to be held and where there was a climate of political instability, sales of the national drink fell by 7%, to 118 million bottles.
Furthermore, CNN points out, in France there have been several extreme weather events, ranging from very hot to early frostswhich made winegrowers in 2021 record the smallest harvest since 1957.
There is less champagne, so the price has also increased, which may deter consumers from purchasing.
Christine Sévillanopresident of the Federation of Independent Winegrowers of Champagne, told in December that prestigious sellers had implemented price increases of up to 40% that “do not go down well with consumers”.
It is “necessary to increase the value of bottles”, but guarantees that “we have to be careful with price increases that are perhaps a little less justified”.
“It is in less favorable periods that we have to prepare for the futuremaintain our environmental trajectory, conquer new markets and new consumers”, he said David Chatillonanother co-president of the Comité Champagne.
“The internal market continues to suffer from the prevailing dark political and economic context,” writes the Committee’s statement. What future holds for the celebratory drink, amid conflicts and economic difficulties around the world?
