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NEW NORMAL

PRICING & ECONOMY

We all know that we are willing to pay the highest price for another bottle at
two o’clock in the morning when supplies have run out and the party is in full
swing. But there are other opportunities that need to be considered when set-
ting the price of wine. I have already mentioned my riotous opinion that the
production cost difference between different wines is not great. There you
need very detailed and precise calculations. Pricing is another kind of art.
Sometimes is it really a matter of feeling and guessing from a crystal ball.
But also, through market and public opinion research, following trends and
looking around the world. What you are willing to pay is the perceived price.

Price Determined by Emotion or Occasion

Many years ago, a friend and I ran several The staff collected money for director´s
wine shops in Prague and other cities, whe- birthday present!
re wine was sold, poured (and mainly talked In those years, even the most expensive
about). It was a big school! Quite often a char- wine was relatively cheap, so no one had to re-
ming girl appeared in the doorway, like a cut ach too deep into their pockets. I believe that
from Vogue, and we knew in advance what sellers in wine shops around the world faced
she would like: What is your most expensive a similar situation.
wine, please? After last Holiday season I read online some
We didn‘t even ask what it should be any- statistics. The annual average of Christmas
more, but straight away - what does your gifts was around $850/year in 2017. Just be-
boss like? cause $850/year is the average doesn’t mean
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