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Craft beer, cocktails & Millennial frugality eating away at wine sales growth in restaurants

This is another in a series of Daily Data segments based on Silicon Valley Bank’s 2016 State of the Wine Industry

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Source: Silicon Valley Bank

“We believe the reasons for this change are explained by more at-home consumption and a behavior change of our frugal millennial consumers who are more likely to satisfy their restaurant consumption needs by starting with a beer or cocktail, then having a glass of wine rather than a bottle of wine with dinner.” — State of the Wine Industry, 2016 – Silicon Valley Bank