Fine wine now a regular luxury for Brits post-lockdown

  • Around three quarters (73%) of wine-loving Brits have spent more on fine wine since the start of the pandemic
  • While almost half (46%) buy fine wine as a luxury to enjoy at home, over a quarter (27%) buy as an alternative investment
  • Almost a third (29%) of these Brits describe themselves as wine connoisseurs
  • Sales up 44% YoY

New research shows that wine-loving Brits are now enjoying and investing in fine wine more than ever, with almost three quarters (73%) saying they are spending more on fine wine than at the start of the first lockdown in March 2020.

The findings come from a study, conducted for Bordeaux Index, investigating Brits’ fine wine behaviours and purchasing habits. Supported by business-owned data from the world’s leading fine wine merchant, the research reveals a huge increase in the number of people dipping their toes into the fine wine world since March 2020.

Bordeaux Index’s H1 results show that fine wine and spirits sales have increased by 44% YoY, valued at $82m. Notably, BI’s online fine wine trading platform, LiveTrade, has seen volumes rise by 52%  – demonstrating how lockdown has led many of us to look at alternative investments such as wines (in particular Bordeaux) alongside the likes of crypto.

While activity in Asia and the US has been very strong, the company has also seen significant gains in the UK, where it recorded H1 customer growth of 13%. Many of these are new to the fine wine market, either as collectors or investors.

While almost half (46%) of those questioned say that buying fine wine started as a way to treat themselves to a little luxury in lockdown, almost nine out of ten (86%) are planning to make fine wine consumption a permanent lifestyle change, as life starts to return to normal.

A third (31%) say their habit is driven strictly by their passion for fine wine, with 41% saying that while they have always had an interest in fine wine, they only now have the disposable income to buy it. Interestingly, over a quarter (27%) buy fine wine purely as an investment.

It’s clear that fine wine is also no longer seen as an occasional treat; nearly three quarters of those questioned (72%) say they drink fine wine once a week or more, while 60% believe they will continue to consume fine wine at home, compared to only 49% who say they’d rather enjoy it in a restaurant.

British drinkers are also fairly confident of their capability when it comes to fine wine. Almost a third say they would now consider themselves a wine connoisseur (29%), priding themselves on their good understanding of fine wine (30%) and the compliments they receive from their at-home selections (15%).  However, two in five (41%) admit they like to buy fine wine mostly to impress their family and friends.

Whatever the reasons we are enjoying and investing in more fine wine, those in the know agree on the most important factors when selecting the luxury tipple of their choice, with vintage (56%), region (54%) and price (51%) being cited as the key drivers that influence their buying decisions.

And as Brits continue to ensure fine wine remains an ‘at home’ luxury, there’s a desire to access it in a more personalised way: a third (33%) say they want to buy through a specialist wine merchant to learn more and expect to purchase their fine wine this way over the next 12 months.

Matthew O’Connell, Director at Bordeaux Index comments:

“The findings show that the pandemic has significantly changed our approach to the way we consume fine wine, and the increasing desire to aspire to drink better at home.  We have seen this in our own UK business, and interestingly have observed broadly similar patterns across our Asian and US offices.” 

He continues. “Aside from those who have been lucky enough to use their savings to follow their passion and enjoy fine wine, it’s also a great investment option and we are seeing more and more investors enter the space. Over the long term, fine wine outperforms equities and also performs well during periods of rising inflation which may be very relevant in the coming year or two.”

Comments are closed.

    Recolight right-hand skyscraper April 20
    Perspex right-hand skyscraper March 21
    Inspired Lighting right-hand skyscraper Aug 21
  • A1 Retail Twitter

  • Search