Business & Finance - Harpers Wine & Spirit Trade News

Duty freeze U-turn ‘extremely disappointing’, says WSTA

Published: 18 October, 2022

The scrapping of the freeze on alcohol duty rate rises by new Chancellor Jeremy Hunt has been condemned as counterproductive by the UK drinks trade.

WineCap reveals USD purchasing power against the pound

Published: 13 October, 2022

WineCap has released its Q3 report, which examines the trends that have shaped the fine wine market over the past three months.

Energy support extension revealed for businesses

Published: 12 October, 2022

The industry has welcomed the news that government will expand its help for businesses with their energy bills, with subsidies set to cover contracts going back to December 2021.

Affordable Burgundy leads the charge for fine wine

Published: 30 September, 2022

Burgundy emerged as the dominant force in fine wine investment for September, Winecap has revealed in the latest analysis of its fine wine index, Wine Track, as the region grows its reputation as the leading investment area for price performance on the secondary market.

Champagne outperforms gold during Covid

Published: 29 September, 2022

Globally, we may have not been swinging from the chandeliers much over the past two years. When it comes to the secondary market however, Champagne has undergone a period of intense transformation to become one of the most attractive propositions for fine wine investors.

Over the inflation cliff

Published: 09 September, 2022

Inflation is 2022’s pandemic. As we emerge from a health-focused crisis, it’s increasingly becoming clear that the health of the public purse and the damaging cost of living is now society’s most pressing issue. No sector is unaffected. From household items to commercial costs – largely driven by spiralling fuel and shipping increases – all are feeling the additional weight of rising costs, which even the biggest players aren’t able to absorb.

Six month energy bills cap for businesses

Published: 08 September, 2022

New Prime Minister Liz Truss has announced there will be a six-month scheme for businesses to tackle the soaring costs of energy bills.

Fine wine goes global

Published: 07 September, 2022

Australia and Spain are at the forefront of an increasing number of ‘rest of the world’ (RoW) wines that are fuelling growth on the negociant-driven La Place de Bordeaux marketplace.

Hospitality industry urges new Prime Minister Liz Truss to ‘act quickly and decisively’ to save the sector

Published: 06 September, 2022

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.

The Bloomsbury Club UK relaunches with ‘supplier first’ model

Published: 05 September, 2022

London-based spirits distributor, The Bloomsbury Club, is relaunching today to help brand owners “retain control of their products” in a competitive marketplace.

What next for UK wine labelling scheme?

Published: 05 September, 2022

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.

Pernod Ricard announces record sales growth in 2022

Published: 01 September, 2022

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.

Consumers and on-trade at a stand-off over costs

Published: 22 August, 2022

As inflation takes hold of consumers and businesses alike, the hospitality industry remains in a deadlock, with businesses planning for more challenging times ahead.

Scorched vineyards in Europe add to inflationary woes

Published: 15 August, 2022

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.

Conservative Party members oppose wine tax hikes

Published: 09 August, 2022

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.

Bordeaux Index records 37% revenue growth in H1 2022

Published: 08 August, 2022

The global fine wine and spirits merchant, Bordeaux Index, generated £80m in revenue in the first half of 2022 – an increase of 37%.

Record 64% of the UK’s top 100 restaurant companies are now making a loss

Published: 08 August, 2022

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.

Jubilee helps on-trade achieve 5% sales growth

Published: 20 July, 2022

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.

Hospitality sector recovery stymied by labour shortages, rising costs, and a drop in consumer confidence

Published: 13 July, 2022

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.

Cashing in on premium brand equity

Published: 11 July, 2022

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.