In the UK market, bottles of New Zealand wine carry price tags that are more than 25% higher than any other nation’s still wines. db reports. At the annual New Zealand trade tasting this week it was revealed that New Zealand producers are able to charge more for their wines in the UK market than producers from any other still wine-making region. And UK consumers are more than willing to meet these higher prices. While the average sales price per litre of still wine is £8.88 in the UK market, wines from New Zealand are priced at an average of £11.10 per litre, representing a £2.22 premium. “In the last 12 months we’ve maintained our price premium, which is so, so important to us,” said Philip Gregan, president of trade body New Zealand Winegrowers. He added that New Zealand wine has also “protected our cache and reputation with the trade and with consumers.” The UK represents 25% of New Zealand wine exports, and generates half a billion GBP worth of retail for the Antipodean nation. The growth in value seen during the last year, said New Zealand Winegrowers, is roughly the equivalent of adding £13 per UK store per week during 2023. The news shows that New Zealand is now second only to Italy on value contribution to the still wine category in 2023. However, Italy is still far ahead in the value race, with its still wines generating £73, 212, 747 compared to New Zealand’s value contribution of £37,
This Article was originally published on The Drink Business - Wine
