Wine could be getting a whole lot cheaper all because of a surplus of California grapes.
Along with the extra grapes, there also seems to be less of a demand for wine, which means prices could decrease in the coming months, according to CNN.
The network predicts the price of wine is going to drop to the lowest it’s been in five years. These low prices could last for up to five years because of the surplus of grapes.
It’s not just the extra grapes that presents a challenge, BTW, it’s also the fact that less people are reaching for wine than they used to.
The Wall Street Journal reports less people are drinking wine than they have been over the past 25 years.
Wine consumption dropped 0.9 percent in 2019, as millennial drinkers are more likely to reach for alcoholic drinks like hard seltzers or cocktails.