An increasing number of fine wine drinkers are frustrated by rising prices, according to 67 Pall Mall’s London Fine Wine Trends Report, released yesterday. 

In the report, which surveyed member opinions and sales data, 67 Pall Mall found that members were particularly disillusioned with the rising price of En Primeur wines from Bordeaux and Burgundy. 

Members noted that they felt prices had been inflated to “the point where it no longer makes sense to buy wines on release,” instead opting to purchase on the secondary market. 

As a result, 51% of members said they now buy less En Primeur than they used to. They added that their only remaining incentive to buy En Primeur was the belief that climate change may alter classic styles in the future, motivating them to purchase now. 

On the once-popular regions, Adrian Garforth MW, former COO of 67 Pall Mall, said: “The reason Bordeaux and Burgundy became popular is because of what they were doing 30 years ago.  

“Bordeaux only started being really successful after the 1982 vintage – and that’s only 40 years ago. Before that, they were working like dogs. But since then, they’ve become a bit lazy.” 

Instead, there is growing excitement about alternative countries and regions. Pall Mall noted that, over the last decade at the club, the most obvious growth has come from South Africa, England, Sicily and Piedmont. 

“German Pinot Noir also received quite a few approving mentions from members looking for quality and value away from Burgundy,” the club said.  

Federico Moccia, head of wine operations London, added: “The one region that is noticeably gaining more attention is South Africa. You have a great quality-price ratio there – in terms of value-for-money, it’s hard to beat. Chenin Blanc for sure, but Syrah and even Pinot Noir too.” 

Turning to domestic wines, the club revealed that sales of English wine have grown by 79% in volume since Pall Mall opened. This peaked in 2023 at 2,742 bottles of English sparkling wine. However, many members still cited the price as a deterrent. 

When asked, one member said: “I have had some wonderful English wines and will always be willing to try them. The main problem is that the really good ones can be excellent but often overpriced.” 

Another added: “I have yet to find an English still wine that I would serve to friends. But the sparkling is terrific, even though I think it’s too expensive.” 

Despite these concerns, 40% of members said they were still likely to purchase more Burgundy over the next ten years – though what they buy will change. 

Explaining the shift, Pall Mall said: “Sales in the London club suggest that members are more willing to trade down in Burgundy, moving from grand or premier cru wines to village wines, or from Puligny-Montrachet to St-Aubin.” 

Anecdotally, the report continued, it is likely that Burgundy will emerge as a more popular choice than Bordeaux. The same is true of Champagne, Piedmont and Tuscany, which are gaining reputations for ‘boutique’ producers and new names “that might offer discovery or value.” 

Price worries and young people 

Elsewhere in the report, the theme of price worries continued. 

Members repeatedly expressed concern that the next generation is being priced out of fine wine, with one saying: “My major concern is that people under the age of 40 feel alienated and choose not to trade up to fine wine.” 

For those younger drinkers who are participating, however, there is a notable difference in how they approach fine wine. According to the club, younger members said they were unlikely to age the wine they purchased, in part due to space and storage constraints. 

They are also less interested in committing to cases of six or twelve, preferring to explore a wider diversity of wines rather than sticking to one style or region. 

Moccia noted that this desire for diversity among young people comes from their access to information and learning via online platforms like Instagram. 

Additionally, many are taking more courses: “Ten years ago, our members were coming in and asking for the classics. Nowadays, we have younger members who are doing their Court of Master Sommelier or their WSET, so they’re coming in knowing about regions,” he said. 

Katherine Larsen-Robert MS, head of wine Europe, added that for many young people “they think of wine as an intellectual pursuit. That’s something we really see, where younger people earn their money in a different industry and see wine as their hobby.” 

Health  

Elsewhere in the report, the topic of low & no was raised with members, leading to interesting results: members preferred lower abv options for social reasons rather than health ones.  

According to the club, there was a clear preference for lower alcohol wines, however more members cited the desire to drink without a hangover as the primary reason.  

“I choose wines based on alcohol. Not so much for health reasons, but to avoid getting drunk. Particularly during the week, if I have a function to go to, I don’t want to turn up half-cut,” one member explained.  

Members also expressed a preference for naturally lower-alcohol fine wines, which they considered better balanced, over those where the alcohol had been removed through processing. This aligns with another emerging trend in the report: drinkers are seeking lighter styles. 

On this, Larsen-Robert said: “Low & no is more the domain of the larger commercial producers – Torres, Gallo etc. I don’t think we’ll see fine-wine producers start making dedicated low-alcohol wines.  

“But I do think many of them are very aware of trying to produce more balanced wine – harvesting a bit earlier and making the wine in a way to ensure that the alcohol doesn’t dominate. I also think there’s a chance for naturally lower-alcohol wines – Hunter Valley Semillon, German Riesling, Loire Valley reds – to come back into fashion.”