Next up in our end of year trade talking heads is Mark Wrigglesworth, director at The Good Wine Shop, as he reflects on remaining competitive in a challenging environment.
What have you put in place to maximise Christmas trading and what are the early indications so far?
Good people, good training and a good product range, together with a bag load of hope thrown in! It’s too early to tell about December yet, but November was brisk and promising.
What, for you, were the specific highs of 2024?
Our events program has been epic. We delivered 67 individual ticketed tasting events across our shops together with a couple of wine dinners and a large portfolio event in November. We also completed a refurbishment of our new shop in St Margarets meaning a fresh new look with drink in facility and a dedicated tasting event space, which is very exciting. Finally, a complete redesign and upgrade to our website as well as the design of a new website brand to run parallel to our main site which is in soft launch now called www.simplygoodwine.co.uk.
And the lows?
The disappointing start from the new government. Rather than the optimism and drive that I had hoped for from a fresh, new and ambitious government, which could have provided a welcome bounce, we have seen them talking down the economy and hampering growth. The lack of duty easement together with a Budget which seriously burdens small retail and hospitality businesses was a huge disappointment.
How have the specific challenges of this year contributed to wider drinks trends?
With the continuing cost of living pressure, we have continued to see people visiting us less on the retail side (and more on hospitality side), but spending more when they do. The drink less, drink better mantra seems to be a continuing trend based on those economic pressures. Low & no also continues to grow in interest but more as added sales rather than the primary reason people come to us.
With the duty easement likely to end in February, how are you looking to mitigate the impact of rising duty on business?
Frustratingly there is little we can do but put up our prices to protect our margins. We cannot subsidise tax increases for our customers when our costs are going to increase significantly (again) as a result of the Budget.
As a business, what positives are you looking forward to in 2025?
Tough times also provide opportunity. We need to be well placed to take advantage of this and the continued cost of going out will hopefully see a boost to retail sales as people choose to stay in more often and drink at home. We have also made some significant investments in a new shop site and digital this year and are focusing hard on ensuring they are successful and deliver a return on the time, effort and money we have put in will be key to a successful 2025.
Quick fire questions:
Ultimate turkey pairing wine?
Great white Burgundy with weight but finesse
Ultimate wine turkey
We listed an unnamed Chinese Chardonnay about 15 years ago, mainly because a journalist wanted to write about it and asked us to. When I tasted it I was horrified and found it hard to believe it was wine, closer to urine (not that I have drunk that!). It probably took us five years to get rid of the six bottles we bought
Most overrated spirit?
Vodka
Most underrated spirit?
Calvados
Chardonnay or Riesling?
Chardonnay, but it is a very close call as these are my two favourite white grapes
Port or sherry?
Port. Ask me in the summer and it might be a different answer, but I am sucker for really great vintage port
If you were a type of drink, what would you be and why?
A Negroni – intense and sometimes a little bitter!