Premium wine sales are slowing as Millennials opt for beer and cannabis, and potentially just cheaper wine.

Premium wine sales are slowing as Millennials opt for beer and cannabis, and potentially just cheaper wine. According to the Silicon Valley Bank, sales of premium wine (anything over $10) are expected to grow by 4-8% in 2019 but are progressively slowing down. They explain that young consumers “lack financial capacity, currently prefer premium spirits and craft beers” and are more likely to use cannabis. (Decanter)