Issue link: http://winesandvines.uberflip.com/i/116287
NEWSMAKERS Faces& Forums Oregon Event Pinpoints Target Wine Consumer Speaker says Millennials can't yet afford pricey wine P ortland, Ore.—While baby boomers Neal Larson (left), assistant winemaker at Lange Estate Winery, talks with with Chris Sarles, executive vice president with Young's Market Co. in Portland, Ore. Southern Oregon Wine Institute director Chris Lake (left) chats with Tom Danowski, executive director of the Oregon Wine Board, at the 2013 Oregon Wine Industry Symposium. continue to be the strongest consumers for wines valued at more than $50 per bottle, millennials won't be entering their peak spending years of 35 to 54 until approximately 2020, according to Rob McMillan of Silicon Valley Bank. Millennials "still don't have enough wealth to be able to do that," he said. McMillan offered his perspective during all the State of the Industry session at this year's Oregon Wine Industry Symposium, photos: PETER MITHAM which took place Feb. 19-20 in Portland. While wine pricing is strengthening, the slight shrinkage of the U.S. economy in the fourth quarter of 2012 suggests that consumers will remain frugal at least through Jennifer Henry and Scott Henry IV of Season Cellars in Winston, Ore., flank Michael Moore (center), vineyard manager at South Stage Cellars in Talent, Ore. the first half of 2013, he said. "When you look at the economy, it's not a pretty thing where we are at right at this second," McMillan said. "The aspiringaffluent, middle-class consumer is just starting to get on board." If all goes well, McMillan expects the middle class to start spending more freely by the end of the year. Tom Danowski of the Oregon Wine Board moderated the panel, with other speakers including Christian Miller of Full Glass Research and Greg Jones from Southern Oregon University. Read more about the event on page 17. —Peter Mitham 30 W in e s & V i ne s AP R I L 2 013 Oregon Wine Board veterans Sam Tannahill (left) of A to Z Wineworks and Michael Donovan of RoxyAnn Winery catch up. Jessica Mozeico-Blair (left) and Leigh Brown of Et Fille Wines in Newberg, Ore., attend the OWIS trade show reception.