Creating Value in a High Cost Environment
It’s kicking into the summer season and hospitality businesses are focussing on optimising any tourist or holiday spend that will come their way. Late August and early September are peak times for reviewing a wine list, with the autumn-winter season in mind.
There are some significant challenges this year for hospitality businesses - worldwide supply chain issues, increased energy costs, increased costs of dry goods and a well-publicised inflationary economy is causing consumers to tighten their belts. How can a wine business offer a varied and interesting wine list under these kind of pressures? Read on for some simple things you can do to manage your costs, without compromising the quality and value to your customer:
1. Analyse your list - what are your biggest sellers and why? Is it a popular varietal or is it because it’s the cheapest wine? Be honest and assess your list with a critical eye and be open to change.
2. Once you understand what sells and why, offer more within this category at different price points - for example, if it’s Sauvignon Blanc offer wines that are similar to Sauvignon Blanc in style and of similar quality, but may be cheaper owing to be lesser-known.
3. Increase the selection available by the glass and consider selling by the carafe too. It helps wine to be more affordable for your customer, without compromising on variety. Consider a wine of the week or blackboard specials that pair with a particular dish - this approach will allow you to take advantage of supplier promotions.
4. Offer food and wine pairings - your food menu is a tool to sell wines by the glass and it improves the experience for your customer. Remember to offer an aperitif! Sometimes you just need to ask the question…
5. Remember that it's the front of house team who come face to face with your customers. Train the team accordingly - it will be the difference to your business when it comes to repeat business. Your team don't need to be wine experts, but a bespoke, holistic approach to training will develop an understanding of a food and wine experience, empowering them to speak with a little more authority to your customers.
6. Your wine list is a tool to educate both staff and customers. A well-written, accessible wine list can bring your customers on a journey that is relatively risk-free, offers a premium experience and makes more money for YOUR business.
If you have a vision for your wine business, Wine Allies can help you create a wine strategy that drives revenue and profit, so you can get on with the day job.