Business & Finance - Harpers Wine & Spirit Trade News

Majestic announces second-biggest Christmas trading results

Published: 10 January, 2023

Majestic, the UK’s largest specialist wine retailer, has announced its second-biggest Christmas trading performance in history.

Government extends alcohol duty-freeze for six months

Published: 20 December, 2022

The freeze on UK alcohol duty rates has been extended six months to 1 August 2023, the government announced yesterday (19 December 2022).

Millennial fallout threatens premiumisation

Published: 13 December, 2022

A major shift in premiumisation trends is about to occur, new analysis from the IWSR has concluded, as millennials and those who enjoyed greater discretionary spend during the pandemic feel the strain of a new period of economic instability and stagnation.

Red flags for fine wine, says Liv-ex

Published: 08 December, 2022

Fine Wine provided stability amid an increasingly uncertain economic outlook in 2022, a new report from Liv-ex has revealed. However, as renewed investment and speculation pushed prices, analysts have been left wondering whether the ‘Covid era boom’ has run its course.

The era of economic moderation is here, as inflation finally bites

Published: 07 December, 2022

Premiumisation was an ongoing trend in wines and spirits during the first half of 2022 as consumers leaned into little luxuries, new data has revealed. However, as we teeter on the brink of global recession, it is increasingly clear that consumers are holding back on their drinks purchases – a trend that could be particularly acute in the UK, where both intensifying economic gloom and rising inflation is threatening to ‘derail premiumisation’.

Restaurant owners forced to borrow 12% more than last year

Published: 05 December, 2022

The amount restaurant owners are borrowing to keep their own businesses afloat has increased 12% in the past year, from £377 million in 2020/21, to over £424 million in 2021/22, says Mazars, the audit, tax and advisory firm.

Taking stock: UK beverage businesses are in midst of ‘inventory crisis’

Published: 30 November, 2022

UK beverage manufacturers are now holding more than double the amount of stock compared to pre-pandemic levels, as delays and shortages take an increasing toll on the global supply chain.

St Austell Brewery agrees investment with Harbour Brewing Co

Published: 28 November, 2022

Cornwalls’ St Austell Brewery has taken a minority share in Harbour Brewing Co, a multi-award-winning Cornish brewery.

Champagne available in corporate boxes despite World Cup alcohol ban

Published: 18 November, 2022

FIFA has reversed its decision to sell alcohol at all eight World Cup stadiums in Qatar, just 48 hours before the tournament kicks off.

How the Drinks trade reacted to The Budget

Published: 17 November, 2022

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.

Champagne trade share at all-time high according to Cult Wine Investment

Published: 16 November, 2022

Fine wine investment specialist Cult Wine has released its 2022 Champagne report and the investment potential “speaks for itself” according to the experts.

Costs crisis wipes out hospitality's growth despite an increase in October sales

Published: 16 November, 2022

October sales at Britain’s top managed restaurant, pub and bar groups were 1.5% ahead of the levels of October 2021, CGA has revealed.

Accolade agrees deal to sell Bristol bottling factory to Encirc

Published: 15 November, 2022

Encirc, a major glass manufacturer, has agreed a deal with Accolade Wines to purchase the assets of The Park, a bottling and warehousing facility in Bristol.

WSTA pens letter to Chancellor opposing alcohol duty u-turn

Published: 15 November, 2022

Over 100 business executives from across the alcohol industry have signed a letter written to the Times calling on the Chancellor to bring back the freeze on alcohol duty.

Alternative formats group publishes open letter to government

Published: 07 November, 2022

A group which advocates for the rapid use and adoption of alternative wine formats, has published an open letter from the industry to the government, calling for the introduction of consumer tax incentives for carbon-friendly alternative packaging.

Friday read: The big spending squeeze – are your brands ready?

Published: 28 October, 2022

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.

Not so merry and bright

Published: 27 October, 2022

Three-word slogans have bombarded the UK under the current government, from ‘Get Brexit Done’, to ‘Hands, Face, Space’ and, most recently, ‘Get Britain Moving’, which sounds more like an ad for a laxative than a treatment for the country’s overall ills. But now we’re getting ‘Winter of Disconnect’, courtesy of the press, which is summing up both how a majority of consumers feel not only about the three-hour blackouts that the National Grid is warning of over the coming season, but also how they feel about the government’s
approach to the economy.

Teetotal PM headed for No. 10

Published: 24 October, 2022

It’s likely that alcohol will play little to no role in the celebrations in the Sunak household this evening, as the UK prepares for a new – and perhaps its first ever teetotal Prime Minster – in Number 10.

Pernod Ricard announces double-digit growth in Q1

Published: 21 October, 2022

Pernod Ricard SA has reported significant growth in sales after raising prices amidst the travel retail bounceback.

Demand for super-premium wine and spirits heading for potential slump in US

Published: 19 October, 2022

A new report issued by Rabobank, the multinational banking and financial services company, has examined the potential for a looming US recession to shrink the hitherto booming market for luxury brands.