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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Pernod Ricard has released its FY22 results, revealing a sales growth of 17% in 2022, totalling €10,701m – the first time the company has exceeded the €10 billion mark.
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As inflation takes hold of consumers and businesses alike, the hospitality industry remains in a deadlock, with businesses planning for more challenging times ahead.
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Inflation has reached boiling point for the wine sector – with climate change adding to a melting pot of pressures which are placing increasing strain on the industry.
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According to new YouGov research, over three-quarters of Tory party members want tax on wine to be frozen at its current rate or reduced.
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The global fine wine and spirits merchant, Bordeaux Index, generated £80m in revenue in the first half of 2022 – an increase of 37%.
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The national accountancy group, UHY Hacker Young, has revealed that a record 64% of the UK’s top 100 restaurant companies are now making a loss.
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June’s like-for-like sales at Britain’s top managed restaurant, pub and bar groups were 5% ahead of the pre-Covid-19 levels of June 2019, the latest Coffer CGA Business Tracker reveals.
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A new report, Future Shock – Leaving Covid Behind, shows sales are back to pre-pandemic levels, but 15% of roles remain vacant, costs are spiralling, and the cost of living challenges is impacting consumer spending.
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With the cost of living ever increasing, UK consumers might be reconsidering the way they purchase spirits, but premium brands are likely in the best position to weather the storm. Now is the time to make the most of that brand equity, and perhaps take some lessons from challenging economic times of the recent past.
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Spearhead, the Black-owned African spirits group, has raised $3 million.
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According to Kantar, sales are falling at all the major multiples, but it’s not all doom and gloom. During the 12 weeks to 12 June, supermarket sales, including alcohol, groceries and softs, fell 1.9% year on year. Supermarket alcohol sales are also declining, down 12% year on year in the same period.
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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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As we hover on the edge of a possible recession, with inflation reaching a 40-year year high in June, it’s no surprise that UK consumers are tightening their belts.
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A new report warns today that the cost-of-living crisis could severely hamper the hospitality and leisure sector’s post-pandemic recovery amid a widespread lack of staff.
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Like-for-like sales at Britain’s leading managed restaurant, pub and bar groups in May were just 0.1% ahead of the pre-Covid-19 levels of 2019, the latest Coffer CGA Business Tracker reveals.
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The WSTA struck a note somewhere between optimism and realism at the opening briefing of this year’s London Wine Fair, calling for “resilience and resistance” in order to manifest a more fully formed recovery of the wine and spirit trade post-Covid.
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When chancellor Rishi Sunak announced his proposed changes to alcohol duty in the October Budget, he described them as the “most radical simplification of alcohol duties for over 140 years”. Under the present system, there are three duty rates on wine – one for still wine, a slightly higher one for sparkling wine and an even higher one for fortified wine.
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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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