The Real Deal: Time for some wine when it comes to your wallet! Why inflation hasn’t really affected prices.
Apparently, it's time for some wine when it comes to your wallet! You may be surprised to learn that inflation has not forced wine prices to go up as much as the prices of everything else, at least not yet.
From beautiful New Jersey vineyards to your neighborhood wine store, your favorite bottle of wine costs the same as you paid a year ago.
David Wolin, the owner of Old Work Cellars in Hunterdon County, explains why.
“The wine industry -- while the costs are going up it takes a while to produce a wine,” says Wolin. “A bottle of wine can take one or two years to make so a number of those costs really haven't hit us yet.”
Wolin also says supply and demand is in his winery's favor. COVID-19 forced him to create more outdoor experiences, like private cabana rentals that customers love. It's driven up demand, but luckily there's still plenty of supply.
“Your top 500 branded bottles have very much stayed the same because as soon as there's an increase the customer sees, they know where they can get it for less,” says T.J. Pingitore, with The Wine Chateau.
The marketing manager for The Wine Chateau says even though wine prices have not gone up, if you want to save even more, buy the case. But be careful with so-called deals on the internet. First, with shipping.
That's why The Wine Chateau offers yearly subscriptions in exchange for free shipping.
Online retailers like firstleaf.com offers six bottles for $39.95 if you agree to several shipments, too.
But Pingitore says, try not to make one of the biggest online wine buying mistakes by ordering too many wines you've never heard of before.
Both wine experts say even when wine prices eventually catches up with inflation next year, wine lovers probably won't cut back.
The Wine Chateau marketing manager also says if a company is not asking you to pay for a subscription in exchange for free shipping, they're probably adding the shipping cost to the price of your bottle of wine.
But with wine prices staying low, you might as well stick to buying at your local wine store or winery to get your best wine bargains.