Industry heads are warning that wine drinkers could face rocketing prices if the chancellor goes ahead with a double-pronged tax hike, likely to be announced at tomorrow’s Spring Budget.
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With inflationary pressures bearing down and the cost of living crisis biting, Harpers invited indies to respond to our Dealing with Price Inflation survey, to build a picture of how merchants are coping and what increases are being introduced. Andrew Catchpole rounds up the feedback.
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Premiumisation continues as consumers lean into little luxuries. However, the economic doldrums and rising inflation are also fanning the flames of moderation trends, writes Jo Gilbert.
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The UK hospitality trade rode a wave of World Cup fever in November, when sales were above a still somewhat Covid-dampened environment at the end of 2021. However, with inflation biting hard and more disruption on the way over Christmas 2023, operators could be set for a challenging end-of-year run.
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In today’s Autumn Statement (17 November 2022), Chancellor Jeremy Hunt made a few announcements regarding business taxes, but there was no mention of alcohol duty, much to the frustration of the drinks trade.
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Yvette Flower, strategic planner at ZEAL Creative, looks at the future of premium beer, wine and spirits sales, and how brands can insulate against the rising tide of inflation.
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It seems no matter where the cost increase comes from – whether it be energy bills, business rates or fuel increases – the consumer will always pay the ultimate price.
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WineCap has released its Q3 report, which examines the trends that have shaped the fine wine market over the past three months.
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The number of pubs closing across the country, having called last orders for the final time, has rocketed by 50% in the last three months.
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On Monday (5 September), Conservative Party members chose a new leader and, therefore, a new Prime Minister. Liz Truss secured 57% of the vote, defeating Rishi Sunak in the race to Number 10.
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By the time this feature is published, a new UK wine labelling scheme should be effective. However, according to the Wine & Spirit Trade Association (WSTA), the government has signalled its intention to defer the introduction of the forthcoming labelling rules until 1 January, 2024.
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UKHospitality (UKH)chief executive Kate Nicholls has written an urgent letter to the UK government, outlining the potential disaster facing thousands of businesses in light of the energy crisis.
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Unemployment levels are at a record low, while the total number of job vacancies in May-June 2022 was 1.3million, this is according to figures released today by the Office for National Statistics (ONS).
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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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UK restaurant insolvencies have jumped 64% from 856 in 2020/21 to 1,406 in the past year as rising inflation and labour shortages drive restaurants out of business.
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Following months of lobbying from the trade, the government yesterday (July 20) delayed its alcohol duty review till the Autumn.
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Mounting pressure is being placed on the government to ease the ‘financial fragility’ of the hospitality sector during its upcoming review of business rates, as businesses continue to suffer rising supply chain costs and runaway inflation.
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Lebanese winery IXSIR has called on exporters to help boost sales of its products abroad, as the country continues to fight ongoing crippling inflation and energy shortages.
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According to real estate consultancy Altus Group, the number of pubs in England and Wales is now at its lowest point on record, down by more than 7,000 in the last decade.
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A new taxpayer-funded ad campaign will ask businesses to cut prices to help with the cost-of-living crisis from July.
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