Total wine hours per week are the most widely used metric of wine consumption by retailers worldwide.
They also account for roughly a quarter of the total US sales of wine.
In 2017, total wine hour sales accounted for nearly 70% of US wine sales, according to Nielsen.
The average retail wine hour sale in the United States was valued at $18.76 in 2018.
But according to WineMetric, total sales of total wine minutes are not quite as high as total wine sales.
WineMetrics’ data indicates that the average total wine wine hour was valued just $5.65 in 2018, according the Nielsen Company.
The reason for this disparity is because total wine price is calculated by multiplying the number of hours spent by the total price of a bottle of wine purchased.
This formula assumes that all wine consumers would buy the same number of wine bottles, but if consumers are allowed to purchase multiple bottles, the total wine cost could vary.
According to Nielsen, total US wine hour consumption in 2018 was $16.35 per bottle, compared to $13.80 in 2017.
The $12.50 difference between the two numbers means that in 2018 the average wine bottle was worth $24.55, while in 2017 it was valued for $16 per bottle.
Total wine hours are not only an important metric for wine shops, but also consumers who purchase wine.
A recent study by the consultancy consultancy PricewaterhouseCoopers (PwC) found that 70% to 75% of consumers consider wine hours to be a major factor in their purchase decisions.
However, if you look at the overall market for wine, the trend is not as clear-cut.
For example, in 2017, the average retail price of wine was $20.46, according Nielsen data.
In 2018, that number rose to $21.10.
In other words, the number that is sold at the retail store has grown substantially since the peak of the wine boom in 2017 (it now stands at $25.12 per bottle).
So how is total wine prices going to change over the next year?
According to PwC, total prices of wine are set to grow at an annual rate of 1.5% to 2% in 2018 compared to 2017.
That is a marked increase from the current annual growth rate of about 0.5%.
PwTec, a consultancy that studies the industry, estimated that total retail wine prices would grow by about 4.2% in 2020, compared with 5.1% in 2017 according to the US National Wine Institute.
PwTEC estimates that the growth rate is more consistent across all regions.
However the trend of an annual increase in retail wine price will not be mirrored across the entire wine market.
According to Wine Metric, the largest retail wine brands are likely to continue to increase their prices and, as a result, total retail price will continue to decline.
A report from the British Retail Consortium, a research firm, found that the price of retail wine in 2020 was $564 per bottle compared to the $541.96 in 2017 and $565.40 in 2016.
The report also found that average retail retail prices of wines rose 0.9% in the last five years.
The report estimated that the increase in prices was due to higher consumer spending on the average bottle of wines, increased competition from imports and increased availability of cheap, low-quality bottles.
PwG, a firm that provides market data and research, believes that a more stable market for retail wine will continue.
In 2017, it estimated that retail wine consumption increased by 5% in 2019.
In 2020, it forecast a 1.4% increase.
“We expect retail prices to continue their upward trend, with an increase in consumer spending in the 2020s, with a decrease in the current year, and then a recovery in 2020.
This will see consumer prices in 2020 stay at the current levels,” PwG’s David Miller told Next Big Economy.
However there are also signs of a slowdown.
According the report, total wholesale wine prices dropped by 4.4%, with a corresponding decline in retail prices.
PWG says that this was due largely to the impact of the Brexit vote, and that some countries are still trying to find ways to control alcohol and alcohol-related issues.