Retailing in antiquity[ edit ] Marketplace at Trajan's Forum, the earliest known example of permanent retail shopfronts Retail markets have existed since ancient times.
Why does wine cost what it does?
Duty is just over a pound a bottle, and VAT is More care might have been taken in selecting riper or lower yielding grapes, more trendy varieties cost a bit more, and the wine may even have seen some oak contact in the form of barrel staves or oak chips, or even older barrels.
Basic, entry level Chardonnay grapes, for example, will cost a lot more than entry-level Chardonnay grapes from the Languedoc. Here the price is determined by a number of factors. Where the wine comes from is a complicating factor, here: A question of quality: A difficult question to answer precisely.
Loosely, though, you'd expect an expensive wine to be: More harmonious, with all the components in balance More complex, with a range of different interacting or layered flavours More persistent this is called 'length' with flavours that last for longer Perhaps with the potential for future development, although this isn't always the case More elegant and beguiling More concentrated This price bracket is quite a mixed bag, encompassing hand-made, individual wines from less trendy areas on the one hand, and mass market industrial brands engineered to taste more sophisticated by winemaking trickery on the other.
And, of course, this is the bargain basement end of the Champagne market.
Wine at this level enters the luxury goods market, and pricing is largely an artificial construct determined by factors such as scarcity and perceived quality. Beyond this, the law of diminishing returns kicks in.
With expensive wines, it is not always the case that average consumers would be able to appreciate why they are so revered by experts.
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