The “less vigorous” economic context has not spared wines and spirits over the past year. The Société des alcools du Québec (SAQ) recorded a drop in its sales volumes in liters.
For all products, the sales volume decreased by 2.3%, according to the results published this Thursday in the annual report of the state company for the 2023-2024 financial year ending March 30.
In the wine department, sales in liters fell by 3.3% while those of spirits fell by 1.3%.
“Over the past year, we have faced a slowdown in our sales in liters, a widespread trend in the global wine and spirits industry, accentuated by a less vigorous economic context, while inflation continues to weigh on the portfolio of our customers,” indicated in writing in the annual report the president and CEO of the SAQ, Jacques Farcy.
Sales stood at $4.101 billion compared to $4.048 billion during the previous fiscal year, an increase of $53 million or 1.3%. This increase is attributable to the fact that the financial year exceptionally had 53 weeks.
More details to come.