Consumers are bypassing champagne in favour of cheaper sparkling wine, as Rémy Cointreau on Thursday reported a 40 per cent fall in sales of its bubbly brands due to “difficult worldwide trading conditions.”

France’s second-largest spirits group attributed the fall, which mainly affected its Piper-Heidsieck and Charles Heidsieck champagne brands, to a drop in demand within France and also a drop at airports worldwide.