Abstract
Champagne is a very special product that is only manufactured in local and limited areas. This category of wine has no direct competitors abroad and remains a prized product. The sales volumes are decreasing but the global sales value is on the rise. For now, the consequences of the depression are quite weak. Yet, there is an economic uncertainty: in 2008, the sector overcame the economic crisis but the future seems to be uncertain. Winegrowers are quite confident about the quality and the reputation of Champagne. The occurrence of an economic crisis it provokes a crisis in the Champagne sector. The weakening economic situation is affecting the Champagne Region. A similar situation prevailed in 1974, 1979, 1990, and 2000 and in the recent crisis as well. One critical aspect to be kept in mind is that Champagne always undergoes the crisis effects a year after the phenomenon. The effects and consequences on Champagne are the same for all of those crises periods. It manifests itself in a drop in volume of sales but not necessarily by a drop in value because the prices of the products tend to rise so as to compensate for the downfall. There is a shift between the price of grapes and the arrival of a crisis that will have an effect on volumes and prices. Obviously this will affect firms' margins and hence, distributors keep a certain distance by stocking up at the last moment.
