Got Bacon? What Can the Wine Industry Learn from Pork’s Problems?

The outline of the Wall Street Journal story was very familiar to anyone who has followed wine industry trends in recent years. The product had a long history and was well-loved in America and around the world. But the industry itself was in crisis. Demand was down. Part of the problem was health concerns and part of it was price (its retail price was higher than the most popular substitute). Worse of all, younger consumers were turning away.

Production costs kept rising and rising, but retail p...