Champagne is loved around the world - particularly by Australians - but now, Australia is facing a mild champagne shortage.
👉 Background: Champagne originated in the Champagne wine region of France. But it's loved around the world - particularly by Australians. In fact, we’re the sixth biggest drinkers of champagne in the world.
👉 What happened: But right now, we’re facing a mild champagne shortage in Australia - think: Moet and Veuve. Champagne producers across the country are stressing hard because they’re running out of stock right before the busy season.
👉 What else: It's been a bit of a perfect storm - we experienced COVID supply chain issues as well as frosty weather in the Champagne region, which ruined a heap of champagne harvests. At the same time, the champagne industry has seen increased demand over the past few years.
💡 Whenever there is an economic crisis, it has an impact on how people behave and what sort of economic decisions they make.
💡 With the pandemic and cost of living pressure, Australians have been consuming more alcohol - particularly of the bubbly-variety. In fact, Australia's champagne consumption increased by 16.5% from 2020 to 2021.
💡There’s been explosive demand for champagne over the last couple of years and with Christmas around the corner it’s not slowing down! So the combination of increased demand and decreased supply has caused chaos in the champagne market.
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