while non-premium (cask) sales are declining
(Anderson 2003; Anderson
et al.
2003).
With global demand static and export supplies
expanding rapidly, the average price of internationally
traded wine is bound to come under pressure to
decline in the coming years. In this more-competitive
and more-globalised environment, the extent to
which the price declines (or rises) for a particular
group of producers will depend very much on the
quality upgrading of its product, absolutely, and
relative to that of other producer groups, as perceived
by consumers at home and abroad. This raises the
question of what determines consumers’ perceptions
of quality when they buy newly released wine