Today, spirits represent about 42% of our sales and continue to grow. Trone: We’re allocating more space to spirits as we build new stores and remodel existing stores. SND: In recent years you’ve been expanding Total Wine’s spirits offering in line with consumer trends. Many suppliers are overly optimistic on their ability to raise prices, and underestimate consumers’ reaction to price increases. Suppliers need to be very careful when raising prices, as they risk losing considerable market share if they raise prices and consumers switch to alternative brands. When the retail price increases on an item, we see the consumers that were purchasing that item switch to a different item. Trone: The key trend we’re seeing is that consumers are not accepting price increases. SND: How are those trends in wine manifesting across Total Wine’s stores? As we look forward, the wine market is very uncertain, and it is difficult to predict the extent of the consumption declines in the upcoming year however, it is very clear that wine premiumization has dramatically slowed down. Trone: 2022 was a difficult year for the wine business and a strong year for the spirits business. SND: How did 2022 finish out for wine and spirits respectively at Total Wine, and how is their outlook this year? Plus, we are remodeling 48 stores and have two re-locations planned for this year. The new stores will spread across many states, with California as a focus. We’re continuing to build new stores, with 18 new locations to be opened in 2023, and we are planning for 20 stores to be opened in 2024. Trone: Today we have 247 stores, and in 2022 we had total sales of $5.5 billion. SND: What are Total Wine’s total store count and revenues currently, and what kind of expansion are you targeting for 2023? SND executive editor Daniel Marsteller caught up with Total Wine co-owner Robert Trone for an update. Amid the pandemic, uneven economic conditions, and rapidly changing consumer trends, Total Wine has continued its expansion, with recent initiatives focused on upping the chain’s spirits and RTD offerings and enhancing its digital platforms to meet the needs of the modern consumer. presence of nearly 250 store locations and revenues of $5.5 billion, Total Wine & More continues to be a national force in beverage alcohol retail with no plans to slow down. Interview: Robert Trone, Co-Owner, Total Wine & More February 13, 2023
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