The news has been filled with woeful stories about Brexit for over a year now, with Britain’s pending exit from the EU seeming to be taking its toll of pretty much every industry.
This very much includes the world of drink. With the majority of the alcohol we drink in the UK being imported, uncertain trade deals mean a great deal of uncertainty over what we will pay for our favourite tipples.
But, it appears these issues have already begun, with Liberty Wines reporting a huge hike in the price of wine. With prices of on-trade wine up 9% a bottle, exceeding inflation rates, there are many concerns surrounding the UK and European wine industry.
According to recent reports, a no-deal Brexit is expected to cost the wine industry a huge £70M. This is mainly down to the 600,000 additional forms that producers will need to work on.
Wine price hikes
Restaurants are showing the biggest mark-ups at 28% while outlets are working with rates of around 21%. This is arguably down to highly-trained staff that work within our hospitality industry. Keeping the wine industry alive with their great knowledge, staff are maintaining our nation’s appetite for fine wine, even with these big price hikes!
David Gleave MW, managing director of Liberty Wines, commented:
“It is clear that consumers are still responding positively to help from informed staff, are looking for more, not less information on the wines and regions, and are actively seeking encouragement to try different wines. They are calling for good glassware and well-designed wine lists to help make their choices easier.
“These characteristics of the premium on-trade set this sector apart from the rest of the industry. They are relatively straightforward for on-trade operators to put into practice and, when combined with a good range of well-chosen wines, will lead to happier consumers who we believe will reward outlets that respond to their needs.”
Wine bar hire
Here at Urban Spirit, we offer wine bar hire services across the UK, allowing our customers to serve all types of competitively-priced wines at the bars of their choosing. For more information, get in touch.