There is some good news for wine lovers.
Wine prices could get cheaper!
According to CNN, cheaper wine prices are the result of a surplus of grapes as well as less demand.
“The industry should rightly be concerned,” Rob McMillan, founder of Silicon Valley Bank’s Wine Division and author of the annual State of the Wine Industry report told the cable news channel.
“We aren’t engaging with the millennial consumer, and boomers who have driven wine sales for the last 30 years won’t live forever.”
The surplus in grapes could drop wine prices to the lowest it’s been in five years.