Wine Society delivers record-breaking Christmas sales
Amid much gloom in the market generally and set against the current duty rises, The Wine Society has reported a record trading period over the festive weeks.
Gross sales for the eight weeks to 27 December 2024 hit £35.7m, marking a rise of 1.5% against the same period last year, crowning the member-owned retailer’s 150th year in business.
Other records were broken by the business too, including its highest ever week for total sales, at £7.1 million in the last full week before Christmas, with Friday 13 December proving lucky as sales topped £2 million on the one day.
The Wine Society has attributed its strong performance to its move to hold prices since the 2023 duty hikes, which were the biggest in over 50 years, making its 1,600 range of wines look particularly attractive against those of competitors.
“Holding prices provides us with a tangible way to give back value to our members and the decision appears to be paying off,” said CEO Steve Finlan (pictured).
“While it is a huge financial cost for any business to take on, it is important to share our vision of how a mutual business model such as ours can change the dynamics of the industry and buck the trend of declining sales.”
Nonetheless, despite such a positive festive trading period, The Wine Society is braced for what it described as a ‘tough looking’ year ahead, with the current duty rises, coupled with National Insurance and business rate increases, plus Extended Producer Responsibility coming down the line, all adding up to significant challenges through 2025 and beyond.
“In the face of such headwinds, we are prioritising looking after our most important people; our members and our employees. We have committed to holding all prices on our range of own label wines and for employees we have announced a pay review to be paid into wages next month,” Finlan added.
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56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
