One thing that most people don’t understand about wine clubs: the number of customers is highly dependent on the overall economy, or at least the perception of the overall economy.
The worst time for my wine club was when the economy was expanding rapidly, BUT the market was down. The stock market being down changes the perception of the economy. Sure, some people who are in retirement count on that income and that must be incredibly stressful, BUT most wine club members are still working. Their 401k being down, unless they’re within eyeshot of retirement, simply doesn’t matter in reality, but it feels bad.
When things feel bad, people stop spending money.
So, if you want to know how your favorite wine club is doing today, check the stock market. Their average customer isn’t the hot, young millennial in their ads, it’s a boomer and their spouse who spend their summers at a timeshare in Florida.