Last week I had a call from a friend in the wine business asking for a meeting to discuss the Annual SVB State of the Wine Industry Report. I had no real idea what he was going to say.

When we met, he told me he appreciated what I presented in the report but didn't like the stories he'd read in the news. He thought some were overly critical and missed the positive things happening in the wine business. He asked me if I should be more positive during interviews to cast a better light on the business.

From his perspective, the industry is doing really well. That's because he sees the industry from the vantage point of a business that is hitting the cover off the ball. And to his view, a very large part of the premium wine business reported 2021 was one of, if not their best year ever!

That is clearly good news and if you are one of those, maybe some of the stories covered by the press seem too negative. Some may agree with him and believe the Report dwells too much on the challenges we face. Of course, I don't write the press stories and my friend acknowledged that. When you give an interview, at times it can be spun to generate a little controversy to generate clicks. 

Realistically, the press doesn't report "Everything is Great!" ever. That's not news, so they can at times magnify some perspectives over others to reinforce something controversial. Personally, with some exceptions and one who reported a virtual tornado coming, I think the reporting has been pretty balanced this year:

• The US Wine Industry Transitions To 2022 After A 'Good Year'

  

• The go-to drink for sharing with friends is typically wine, though younger drinkers think differently
• The US wine industry in 2021 did well or great, say many, but huge challenges are coming
• The Wine Business Sees a Problem: Millennials Aren’t Drinking Enough 
• Auntie Em! Uncle Henry! Toto! It's a twister!

All that said, my friend is right that many of the good things happening in the wine industry and covered in the report weren't fully discussed in the press, so let me reinforce some of the good news from the report.

The Good News without the buts

The US economy continues to impress and the amount of pent-up savings sitting in the pockets of consumers is fuel for additional wine sales this year. The consumer has the capacity to buy wine. They will also have the opportunity as businesses are not fully recovered in the hospitality, restaurant, and travel industries. That continuing recovery should show up in 2022 with increasing wine drinking occasions and higher premium wine sales.

Read the rest of the blog here: http://svbwine.blogspot.com/2022/02/there-is-good-news-to-talk-about.html