Friday, December 19, 2008
Bursting The Bubble
So, how bad is the economy? The latest indicator may be the plummeting sales of Champagne.
While Champagne shipments increased by an average of 2.2% per year for the past two decades (and America’s consumption rose by 3.5% annually for the past five years), they are now plunging, down 10% from one year ago. One of the worst to be hit is Laurent Perrier, whose sales were 30% lower in the third quarter of 2008 than in the same period last year.
In any event, I'll be off now until after we raise our glasses to 2009.
So until then, have a happy and joyous Holiday Season!