Bouncing Back Q&A: Riaz Syed, Stonewines

By Jo Gilbert

Published: 10 August, 2021

It’s been a one-of-a-kind 18 months for the trade. Here, as we begin to push into the second half of the second year of the pandemic, Harpers is catching up with businesses to find out how they’re focusing on recovering from the shock, and what challenges and opportunities lie ahead.

We continue our series with views from Riaz Syed, director of Stonewines.

How ‘back to normal’ are you as a business?

Mostly back to pre-pandemic trade. I’ve carried out a review of services to ensure we can face the inevitable post-lockdown hang-over. I’m also mindful of the August London exodus, so have placed on hold the ‘on-trade’ element of the business to focus on what we’re good at; off-trade, hand-selling and also competitive pricing. I expect the latter to be the biggest challenge for the next 12 months. We were fortunate to have pulled in a lot of new customers over the last 15 months, and will be working to retain that new business.

What are your priorities and predictions for the second half of 2021?

There are going to be multiple factors at work here beyond the impact of Covid. Whilst people have moved on from endless Brexit debates and the scrapping of VI-1 forms is welcome, we still have issues created by leaving the EU. We’ll also have shortages following the lower New Zealand harvest – however, if we can move people away from Marlborough Sauvignon Blanc, that might not be a bad thing.

What kind of Christmas are you anticipating and how are you prepping?

We will streamline our portfolio to focus on those lines that work well. We’ll be placing orders earlier than usual and intend to hold greater levels of popular wines. Despite this, I don’t anticipate turnover levels matching last year, and much will depend on the lifting of travel restrictions. It’s possible more people will want to travel out of the UK if we are finally able to do so.

Do you anticipate making a full recovery from the pandemic? What timeframes are realistic?

My business is extremely lucky to have been able to trade throughout as well as attract new customers. I do feel the biggest challenge will be next year. I’ve heard others in the trade say that if there’s a recession, people will continue to drink, but I suspect it won’t be that simple. My hope is that everyone is able to get through the next 12 months and hopefully we won’t see a mass of empty units on the high street. It saddens me to see so few people in the West End. We need positive economic intervention from government as well as a push to encourage tourism.

How heavily have you been impacted by staffing issues?

We were due to take on additional staff in April 2020 to manage the bar and having achieved WSET accredited training status, someone to lead the training programme. I’m sure the training element will resume at some point, hopefully sooner rather than later, but the most important factor is the welfare of the individuals involved.

Are you anticipating more Covid-related restrictions?

Hate to say it, but yes. Let’s see how we get on over the rest of the summer, but I fear that once we resume indoor socialising, there will be an impact. We’ve put a lot into achieving high levels of vaccination, so we also have to hope it’s effective and that we don’t have a variant that the vaccine is unable to protect against.

How have drinking habits changed post-lockdown?

During lockdown, we did see more bulk buying and people were trading up, we’re still experiencing a slight increase in bulk purchases than pre-lockdown, and the amount spent on a single bottle has remained higher than pre-lockdown. One big change has been the level of mid-week and weekend spending, weekdays are now much quieter than before, whilst Friday and Saturdays are at the other extreme. If you’re the type of person who likes to avoid crowds, avoid Saturday shopping!

Lastly, if you could make one change in government tomorrow, what would you choose?

I should aim to be diplomatic here and say something banal and inoffensive, but if we are to have an effective recovery, and not one where the country’s wealth is directed those who are already wealthy, then we need a competent PM.

Quick-fire questions:

France, Spain or Italy?

Spain.

USA or OZ?

Both!

Port or Sherry?

Port.

English bubbles or Champagne?

Whilst Gusbourne have produced some fabulous wines in the last couple of years, we don’t have strength in depth. Champagne.

Go-to drink to watch with the Olympics / tennis / football?

Last night, for the triathlon medley, it was an Albarino. Never watch tennis. Bottle of Gusbourne for reaching the football final, and Gosset Champagne for the final... which wasn’t opened.

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