Regarding wine -should times get bad economically ,would consumers be more apt to buy the cheaper brands ?!
Answers: Or would they want the better more expensive wine as a means of enjoyment regarding approachability, complexity, and extraordinary finishes. Alligning the experiance as means of escape.
I used to feel bad because I couldn't afford "good, expensive wine." I am fresh out of college and swimming in debt. I talked to a wine officianado and he gave me the best advice: drink what tastes good. If you like inexpensive wine then enjoy it and don't feel bad about it! I have found several bottles I enjoy for under $10. Local vineyards also offer some especially delicious choices for very reasonable prices. I live on the East Coast and have tasted a lot of wonderful wines! I don't think wine is as "Stuffy" as once thought. The rules have relaxed and wine can be enjoyed by any age, gender, or socioeconomic status.
As a recent retiree, I find myself looking for the wines that are on sale, instead of the ones I prefer.
I think the affluent will continue to buy expensive wines. The middle class may adjust their everyday wines to coincide with their expenses.
Nowadays it does not matter the price you pay for wine to a get a good one. You can get a really good wine from $10-$15 a bottle.
Ah, marketing theory.
Well the rule of luxury goods would lead us to believe that consumers would first choose lesser wines, and then when really pinched would switch out of wine to lesser priced alcohol.
They might splurge on a really nice bottle every now and then. But in terms of line item in the family budget the wine budget line would be reduced as a whole.