SAQ prices going up, increasing mark-up
Posted February 12, 2024 1:00 pm.
Prices are going up at the SAQ in May, with an increase in mark-ups the crown corporation says.
Wines that cost $15 or less are excluded from the price hike.
President and CEO of the SAQ, Jacques Farcy, made the announcement Monday at a press conference in Montreal, along with chief financial officer Édith Filion,
“The increase represents the gross margin of the state corporation, after paying the supplier for the bottle,” explained Filion.
Farcy explained that this “moderate adjustment” to the increase was necessary with the increase in the SAQ’s operating costs.
He claims that the SAQ had adjusted its mark-up downwards since 2017.
“For example, for a wine at $25, the adjustment of the mark-up will represent an increase of 0.6 per cent and the increase will be the same for spirits at $45,” said Farcy.
The SAQ will also offer more flexibility to suppliers as to when they can request a price increase.
They will not be able to apply more than twice a year.
This report by La Presse Canadienne was translated by CityNews.