Looking Back, Forging Ahead Q&A: Matt Tipping, Jeroboams

By Harpers Editorial team

Published: 11 December, 2024

Next up in our end of year trade talking heads is Matt Tipping, CEO of Jeroboams, as he reflects on a tough ride for the trade.

What have you put in place to maximise Christmas trading and what are the early indications so far?

It’s rarely one thing which makes or breaks a Christmas. We’ve put a huge amount of effort this year into our gift offering, everything from the products themselves, through to new packaging and new logistics for our gift deliveries. The result will be that customers will receive even better gifts via a much-improved delivery service. Our shops look beautiful and the team have benefited from really extensive training over the last 12 months as well as specific training on our key Christmas products. November started slowly, but accelerated significantly in the final week. Let’s hope that trend continues through December.

What, for you, were the specific highs of 2024?

Seeing our wholesale team winning business from our larger competitors, genuine quality and service really is being valued in the current market. Also meeting our diverse customer base which loved our tasting at Battersea Power Station. Lastly, having a bricks and mortar presence in local communities really does allow us to connect with a wide cross section of consumers who love wine and the finer things in life.

And the lows?

The dip in consumer activity on the run up to the Budget was hard to stomach given we’d been witnessing improved year on year comparisons in the previous months.

How have the specific challenges of this year contributed to wider drinks trends?

With consumers feeling the pain of recent inflation, they are choosing very carefully how to spend their money. This is translating into a clear trend of drinking less but better.

With the duty easement likely to end in February, how are you looking to mitigate the impact of rising duty on business?

We have to pass on the rises, which is going to add to inflationary pressures for the industry. However, for wholesale customers we have put significant time and effort over the last 12 months into making sure the entry points in our range are within the correct alcohol bracket in the new regime. We are also working with those producers to minimise any significant mid-year changes to alcohol levels. Duty is a much smaller percentage of the cost of a bottle for our retail customers, but the team will be able to point them towards wines which are naturally lighter in alcohol if their favourite wine has moved up in price.

As a business, what positives are you looking forward to in 2025?

Next year will be our 40^th anniversary and we have a packed schedule of events to celebrate. Over that time, we have seen many challenges and opportunities and so we are well placed to see our way through the latest economic conditions. We also have a significant technology project which is due to be launched in 2025 and that will be a really exciting moment for us.

Quick fire questions:

Ultimate turkey pairing wine?

A magnum

Ultimate wine turkey

One of the many bottles I waited too long to open!

Most overrated spirit?

Anything that leads with its packaging rather than the liquid

Most underrated spirit?

Probably not underrated, but I do like Michter’s Bourbon!

Chardonnay or Riesling?

Riesling

Port or sherry?