Global Champagne Sales Plummet as Celebrations Decline

Economic, geopolitical tensions and changing consumer habits drive a 15% drop in 2024 Champagne shipments.

LVMH reports a 12% revenue decline in Champagne and wine sales in the first half of 2024.
Industry executives link the slump to a lack of celebratory occasions amid global uncertainty.
Adverse weather conditions have also impacted Champagne grape production, exacerbating the decline.
Consumers are increasingly opting for non-alcoholic beverages, influenced by health and wellness trends.
Inflation and reduced disposable income are leading people to choose more affordable alternatives.