Industry Analysis & Industry Trends
The Wine Bars industry has grown in line with the popularity of wine in the past few years, and people look for a venue to be exposed to a wide variety of wines. The industry has high product turnaround, but with low profit margins, which makes it susceptible to any adverse changes in demand (including any recessionary declines). Changes in household preferences, disposable incomes and consumer spending also influence demand.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Wine Bars industry is in the growth stage of its life cycle. Although growth has slowed slightly since the recession, the industry continues to outpace the broader Bars and Nightclubs industry due to changing consumer preferences and rising incomes in urban areas where wine bars are popular. Over the 10 years to 2018, industry value added (IVA), which measures an industry's contribution to GDP, is expected to grow at an average annual rate of 3.3%, compared to annualized GDP growth of 2.1% over the same period. The industry's greater contribution to the US economy is one indication the industry is in its growth stage.
Although per capita wine consumption in the United States is relatively low by global standards, consumption has grown considerably over the past few decades... purchase to read more