New whine in a discounted bottle cos get a hangover
Pune: India's wine industry is seeing flat or declining sales as deep post-pandemic discounting squeezed margins and inconsistent marketing spends by wineries failed to capture younger patrons.
Also, heavy price promotion is now a routine practice in the trade even as consumers shift to white spirit cocktails, and ready-to-drink (RTD) beverages.
"This has been a very unfortunate characteristic of the Indian wine market over the last few years, indiscriminate and unsustainable, and I would say, a state of loss-making discounting by some of our competitors," said Rajeev Samant, CEO of Sula Vineyards, during an analyst call in August. "There is some pretty brutal discounting going on. The buy one, get one seems to be the reigning mantra right now for a lot of our competition. And sometimes it goes even further than that."
Also, heavy price promotion is now a routine practice in the trade even as consumers shift to white spirit cocktails, and ready-to-drink (RTD) beverages.
"This has been a very unfortunate characteristic of the Indian wine market over the last few years, indiscriminate and unsustainable, and I would say, a state of loss-making discounting by some of our competitors," said Rajeev Samant, CEO of Sula Vineyards, during an analyst call in August. "There is some pretty brutal discounting going on. The buy one, get one seems to be the reigning mantra right now for a lot of our competition. And sometimes it goes even further than that."
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