The credit crisis has casualties on a daily basis and one simply needs to stroll down the streets of central London to witness first-hand how shops are relocating, shutting down or struggling to survive.
Top end stores like Waitrose and M&S have also felt the sting, with customers trading down from premium brands to value-for-money products or goods that are on special discount.
In the last 12 months, 41 per cent of customers have swapped to cheaper goods and more than three in ten – 34 per cent – have cut down on premium ranges including Tesco Finest and Sainsbury’s Taste The Difference, according to Mintel, the leading market researcher in the UK. At the same time Sainsbury’s cheaper range of ‘Basics’ goods has seen a 20 per cent increase in sales
So is there an upside for SA wines? Simply put, most definitely. While consumers take longer to deliberate price points when shopping, the reality is that SA wines begin to be seen in a different light and end up in the shopping basket. And it is not just supermarkets that are offering special deals or discounts but, also UK wine magazines who rely on advertising space to drive the business. If ever there was a time to snap up promotional and marketing opportunites, it is now.