Champagne Loses Fizz With Economy

Industry is worried a tough holiday season will leave sales flat
By Jim O'Neill,  Newser User
Posted Nov 17, 2008 10:18 AM CST
Pickers from northern France harvest the latest Moet & Chandon crop from the Cramant vineyards.   (AP Photo)
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(Newser) – Champagne companies are anything but bubbly this year as they head into what’s predicted to be a “horrible” holiday season, hurt by a sagging US economy and weak dollar, reports Advertising Age. November and December are crucial for the industry, with as much as 25% of sales during those months—but shipments to the US already are down 17% through July.

And marketers are cutting back on ad spending as well, adding to the woes bubbly already is facing. “Right now it’s just a celebratory beverage and a brunch cocktail,” one consultant said. “Making it more than that will be expensive.”