Cheers! Prosecco price war sees cost of sparkling fizz fall

Cheers! Prosecco price war sees cost of sparkling fizz fall

It bucks the trend of rising prices for other booze, including beer and wine.

The average price for a bottle of prosecco has fallen by 23p to £6.76 this year.

But beer prices are up on average by 20p, wine has risen by 5p, spirits are up 6p and cider has increased by 4p.

The fall in fizz prices is most likely due to increased competition in the prosecco market, said experts.

It will be good news for shoppers who want to stock up on sparkling wine ahead of Christmas.

Toby Magill, of market analysts IRI, said: “Demand for prosecco is still growing and the price is being eroded.

“Alternative sparkling wines like Asda’s Progrigio are coming in and because of the success of prosecco, it’s very difficult to sell at a higher price.”

Britons’ thirst for sparkling wine so no sign of being quenched.

Consumers drank an extra 12.8 million litres of sparkling wine and spend an additional £63 million so far this year, up 12 per cent on 2016.

The UK sparkling wine market is now worth £782 million a year, said retail analysts Kantar.

Spokesman Rupert Davies told The Grocer magazine: “Prosecco was bought by 8.5 million shoppers last year, up from 2.4 million five years ago.”

Popular brands included Canti with sales of £35 million and Menestrello on £17 million.

Discount supermarket chains such as Aldi and Lidl have contributed to increased sales and falling prices with a string of special offers, forcing mainstream supermarkets to bring down their own prices.

Published at Thu, 05 Oct 2017 23:01:00 +0000

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