'Price For Champagne Is 20 Percent Higher Than In 2019,' Sales Expected To Hit $6 Billion
SACRAMENTO (CBS13) — Ringing in the new year with a toast of bubbly may end up costing you more than you thought as champagne's popularity is once again popping.
Sales dropped in 2020 when the pandemic canceled many new year's parties.
But the industry group UMC says sales are expected to hit more than 6 billion dollars this year, which would be a new record.
In France, some retailers are struggling to keep up with demand.
"Many champagne makers are not able to supply us', a Paris shop owner said.
Part of the reason, grapes in France were hit with some bad weather this year leading to lower production. And in the U.S., that's leading to higher prices.
"We've seen prices on our platform go up a bit," Cathy Lewenberg with Drizzly.com said. She continued, saying that the average price for champagne is 20 percent higher than in 2019, and high-end labels are in high demand.
"The top-selling brands from a champagne standpoint are Veuve Clicquot, Moet, and Dom Perignon, which have all been the top sellers for the month of December," said Lewenberg.
At west coast retailer, Bevmo, people can buy in person, online, or have items delivered through the Go Puff app.
On the site, a small number of specific champagnes are out of stock but there's still a wide variety available. The company has seen increased demand for not only champagne but also alternatives not made in France.
"We've seen a 10% increase for California local sparkling wine year over year," said Lewenberg.
And while the prices for champagne may be going up, spirits are also staying high as the country raises a glass to 2022.
Production issues are expected to continue in France, which means champagne prices could remain higher well into the new year.