If you’re planning to serve wine with your Thanksgiving feast this year, you might want to brace yourself for a bit of sticker shock. Wine prices are climbing, and it’s not just your imagination. Between tariffs, shifting consumer preferences, and economic pressures, the wine industry is navigating some seriously choppy waters that are affecting what you’ll find on store shelves and how much you’ll pay for it.
Here’s what’s really interesting: wine prices have jumped nearly 20% over the past 25 years, with an 8% increase in just the last decade. But the real game-changer right now? Tariffs. A 15% tariff on European Union imports is hitting wine shops hard, with some Manhattan retailers reporting price increases between 5% and 12% this year. Daniel Mesznik, owner of McCabes Wine & Spirits, puts it plainly: “It’s the reality of the tariffs, shipping, manufacturing and labor.”
But here’s where it gets even more fascinating. Wine isn’t just getting more expensive, it’s actually losing ground to other drinks entirely. Americans are drinking less wine overall, with consumption down 3% between 2019 and 2024, and experts predict another 4% drop by 2029.
The reason? We’re gravitating toward spirits, canned cocktails, and ready-to-drink beverages that come in smaller, more convenient sizes with fun flavor options. Wine importers are feeling the pinch too, with sales down 13% year over year and order volumes dropping nearly 30%.
What does this mean for your holiday shopping? You might notice slimmer selections at your local wine shop, especially in the mid-priced range of $40 to $50 bottles. Retailers are ordering smarter, buying in bulk from fewer wholesalers to snag deals. And here’s a silver lining: tequila and mezcal are exempt from tariffs thanks to a 2018 trade agreement, which is why you’re seeing these spirits front and center in stores now.
The wine world is clearly in transition, caught between economic realities and changing tastes. Whether you’re a devoted wine lover or just looking for something special to pair with your turkey, understanding these shifts can help you make smarter choices this holiday season.
Head over to the full article on CNN to get all the details on how tariffs are reshaping the wine industry and what it means for your next bottle purchase.
