Posted on April 15th, 2009
Talk about Recession makes me thirsty.
I really hate to say it but, Been There : Done That. Ecock Wines and Spirits set up in the early 1980′s. Our first venture was a small off licence in a new development on Newtownpark Ave in Blackrock. We had no competition. Come to think of it we had no customers either!
Back then, in the old old days, the term recession wasn’t used. Times were hard or hardy depending on who you were speaking to. I had no friends who could claim to have made pots of cash and none who expected to.
Wine was something exotic and unless you sold beers and spirits for a low marginal return you just didn’t enter the business.
Interest rates soared to 18%. The Middle East was in tatters and black spectacle frames were still the norm.
Now we are in recession; I have loads of mates who have made gazillions and hope to hang onto them, wine is main stream, interest rates are low and spectacle frames are fashion statements. Is there a problem?
We survived the eighties. Why can’t y’all do the same now? Well, that’s a stupid thing to say. The eighties in the wine trade was a voyage into the unknown. It was hard work with managed expectations.
The Irish wine trade today is far more valuable and employs a lot of good people who have legitimate designs on a lifelong career.
It’s a healthy trade and needs to be protected from the ravages of Recession. How to do?
For the Trade:
- Reduce stocks back to the good stuff
- Good stuff means good wine with a healthy margin
- Educate staff to sell
- Selling means to be seen to be on the side of the customer.
- Get modern and enjoy the trade
- I am sick to death of wine trade people who are having noooo fun
- Twitter www.twitter.com/firstpress.com and Blog www.firstpress.blogspot.com
- Drink Sagrantino di Montefalco
- Explore Argentina
- Work hard, play hard and always have a new good idea
For the Punter:
- Don’t give up
- Don’t buy on price
- Explore – it’s supposed to be an adventure
- Drink Tasmanian Wines
- Always be as good as your next good idea
Anyhow, as soon as the eighties were over we opened Ireland’s first Wine Only store in the George’s Street Arcade.
What did we learn from the eighties?
Well, our new store had no competition. Come to think of it we had no customers either!