SAQ raising prices in February
Posted November 8, 2024 10:49 am.
The Société des alcools du Québec (SAQ) says it will raise its prices this winter.
The increase, which will come into effect in February 2025, will exclude “low-priced” wines, which are sold for less than $12.
According to the SAQ, this new “moderate” mark-up is necessary due to the rising costs and the financial context in which it operates.
They point out that there has only been one increase in its mark-up since 2017, last May, but it now plans to review it annually.
The mark-up represents the gross margin that the SAQ takes after paying suppliers.
In May, the increase excluded wines sold at $15 or less.
The charges will apply differently depending on the different alcohols and the price of the bottles.
For a $15 wine, the SAQ indicates that the mark-up will increase by 0.3 per cent, representing about five more cents on the retail price of the bottle.
For a $45 spirit, the price will increase by 3.4 per cent, which will have an impact of $1.50 on the retail price.
Last spring, SAQ CFO Édith Filion explained that the mark-up represents approximately half of the corporation’s total revenues.
–This report by La Presse Canadienne was translated by CityNews
