The new figures show that average sales revenue for small wine suppliers rose from just under £1.3m in 2023 to almost £1.5m in 2024.
However, these businesses only generated an average of £2.61 for every pound spent on inventory last year, compared to £5.61 in 2023 – a drop of nearly 54%.
The figures were published by inventory management software provider Unleashed as part of its report on the performance of the UK’s food and drinks industry. The data from suppliers in seven grocery categories showed that average total sales jumped almost £2.1m in 2024. This represented a 17% uplift on the previous year, driven by a spike in sales in Q3. Drinks companies on their own also recorded impressive results, with average sales up 76%, from £708,000 to £1.25m.
However, the research also suggests that manufacturers, wholesalers and retailers are still feeling the squeeze on margins, even after the high inflation of 2022/23 subsided.
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