Nearly a quarter of hospitality operators have changed the routes-to-market of their drinks ranges and more business are seeking to reduce their delivery partners than increase them, leaving drinks brands at risk of being de-listed, new research has revealed.
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Economic depression tends to lead consumers to splash out on little luxuries. This is the idea behind the ‘lipstick effect’, coined by Estée Lauder’s Leonard Lauder to describe the rocketing rise of lipsticks in 2008, post the 9/11 attacks in New York and while global markets teetered on the brink of financial meltdown. By extension – and with the cost of living and wage stagnation pushing prices higher – alcohol still seems to fall within a comparatively ‘affordable luxury’ bracket.
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UK industry has been left reeling once again following another inflation spike and subsequent interest rates hike, as the ever-increasing price of food and drink continues to stretch the nation’s purse strings as well as the cost of its collective shopping basket.
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On-trade drinking occasions are holding up despite the cost-of-living crisis, according to drinks insights agency, Proof Insight.
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Hospitality businesses are facing a case of ‘out the frying pan, into the fire’ this autumn as the UK teeters on the verge of a recession and a crippling cost of living crisis, leading members of the trade have said.
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A £15bn package aimed at helping households deal with inflation and the rising cost of energy bills comes just one day after the Sue Gray report was published – a move that has prompted critics to question the rationale and timing of the sudden windfall for British consumers. Also, they ask, where is the support for business?
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Following the successful lobbying of government to ditch the much-derided and unnecessary VI-1 forms for wine imports, trade voices are gearing up for another battle, this time concerning organic wines.
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The scrapping of lab tests for EU wine heading to the UK will save the wine industry tens of millions of pounds a year. However, the new trade deal between the EU and UK has thrown up new questions around how much cross border trade in 2021 is likely to cost, with EU wine travelling via GB to Northern Ireland and other parts of the EU now entering a no man’s land where it temporarily belongs to neither region.
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A new definitive report into the drinking behaviours of millennials (born between 1980 and 2000) has put to bed concerns that younger drinkers are completely abandoning wine in favour of craft beers or spirits – or even eschewing alcohol completely.
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The You and Yours programme on BBC Radio 4 recently ran a piece in which a £7.50 Chinese wine in Sainsbury’s was described by the interviewer as “cheap and cheerful”. A flurry of listeners comments followed, aghast that £7.50 should be thought cheap. Many were paying £4-5, unable to afford more, and generally happy with what they were buying. One listener said his wine buff family members couldn’t tell the difference between his £4-5 wines and more expensive ones anyway.
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An increasingly sophisticated and sustainably focused bulk wine sector is in global ascendancy and it is increasingly shaping the world’s wine market, including the premium end.
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An increasingly competitive retail environment has led to yet another mega-merger, this time between Asda and Sainsbury’s. We ask what this new giant force could have in store for wine
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