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Price of Booze Going Up and Down |
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Written by Wire Services
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Monday, 03 April 2006 |
The Nova Scotia Liquor Corporation (NSLC) today adjusted prices on 1,590 of the NSLC’s 2,162 general list products (this does not include the almost 1,000 promotional products that are offered at select times of the year). These changes include a decrease in price of 601 products; an increase in price of 989 products; and 572 products remain unchanged.
The decreases in price happen in every category of product. In the beer category, 25 products decreased; the wine category 459 products decreased; the spirits category 105 products declined; and the ready-to-drink category 12 products declined. The increases in pricing also affect every category. In the beer category 141 products are increasing; in wine 412 products are increasing; in spirits 404 products increased; and ready-to-drink 32 products increased.
“Of the 989 price increases 27 were increased by the NSLC for business reasons and 962 were increased by the manufacturer,” stated Bret Mitchell, President & CEO, NSLC. “The NSLC has also reduced the price on 200 wines passing on the benefits of a stronger Canadian dollar to consumers.” The 27 products which the NSLC increased prices are all in the beer category.
Specifically, the NSLC has introduced a pricing strategy for bottled beer that makes it less expensive per bottle with each successive increase in package size purchased. With this new pricing model, the 24 package size costs $1.52 per bottle; the 12 pack costs $1.58 per bottle; and the 6 pack costs $1.72 per bottle. The 27 NSLC prices increases are solely on 6 and 8 pack cans and bottles.
Today’s announcement sees 440 wine prices remain unchanged. Of the 459 wines that are being reduced in price, 200 are dropping because of the stronger Canadian dollar. The NSLC adjusts all products bought in foreign currencies every two months to reflect currency fluctuations. Most price increases initiated by manufacturers are the consequence of rising energy costs and the resulting impact on production, packing and transportation costs.
Price increases include a 12 pack of Keith’s India Pale Ale rising by 55 cents from $18.44 to $18.99; 24 pack of Molson Canadian increases by 75 cents from $35.74 to $36.49; 750 ml Captain Morgan white rum has increased by 15 cents to $24.49 from $24.34.
Decreases include 1750 ml Red Tassel Vodka which is now $49.64, down $1.85 and a 1750 ml Russian Prince Vodka decreases to $49.64 from $47.79, a $1.85 savings. |
