Gin Pricewatch – 6 September 2019
With a dizzying variety of brands and flavours, coupled with impressive growth, gin is enjoying its time in the sun. Tamara Birch breaks down everything you need to know
Gin is the latest trend in the spirits category, having experienced 48.3% growth since last year. To capitalise on this, consider introducing a range of flavoured gins.
Being so popular, it’s surprising to see the most common price across all lines is Booker’s RRP. Also, seven of this week’s lines were priced below Booker’s RRPs by more than 50% of retailers.
For example, 76% of retailers are pricing Tanqueray London Dry Gin 70cl up to £10 below Booker’s RRP.
When it comes to more unusual products, such as Zymurgorium Realm of the Unicorn Marshmallow Gin 50cl, a third of retailers are aiming for higher margins of up to £7 more than the most common price of £22.49.
Although 29% of retailers price Whitley Neill Rhubarb & Ginger Gin 70cl at RRP, 65% of stores sell it up to £10 below the most common price of £27.99, suggesting it’s popular to run promotions on this line.
Percentage of stores selling above, below and at the most common retail price
“Make the most of local gins, and upsell related products to drive sales”
Store Corfe Castle Village Stores
Location Corfe Castle, Dorset
Size 1,000sq ft
“We price our gin at RRP because we find customers buy more compared to pricing at a premium. We stock all our gins behind the till, but locally-sourced gins take prime space on the shelf because visiting customers prefer to buy gins they won’t find anywhere else. We hold a few tasting sessions of the premium and local bottles for our customers so they can try before they buy. We also have a system in place that advises customers about the tonics or mixers that will best suit the product they’re buying, allowing us to upsell other products.”
“Stock flavoured gin to give your customers more choice”
Store Best-one Byram Park Stores
Location Byram, Knottingley
Size 600sq ft
“We stick to RRP across our gin range because I’m satisfied with the margin and my customers are happy with the prices. Whitley Neill is a big seller for us, especially since the new flavours came on the market. Bombay Sapphire is a bestseller for us, too. I removed my gantry almost a year ago, and relocated my gins to behind the till – and they are all at eye level. As a result, our sales have tripled on some gin lines. Alcohol is a fast-moving category, and I’ve introduced a lot of new gin products to keep up with the latest trends.”
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