From Vine to Wallet: Navigating Wine & Spirits Pricing

Send us a textHave you ever looked at a bottle of wine and thought "Whoa. Ouch that's pretty pricey!" Most of us have. Of course there are wines at all price levels but what really goes into the pricing of your favorite wine - that's what I wanted to know.One of the things that I love about what I do is that through helping businesses with their pricing I've been able to learn a lot about many different industries and about what goes into the making of that product, software or service. I enjoy learning new things and understanding why or how they work. I'm that annoying person at the eye doctor who asks what all the different machines do. Ha!And when it comes to understanding what price to set for something, understanding what's behind the business is an important part of the process. And while cost to produce isn't the only driver of price understanding what goes into production at least at a high level is pretty important to your pricing.Both as a business owner and as a consumer a big part of the value you get from something that you buy is related to what goes into it. And having worked in the agricultural industry for a while I had the opportunity to visit vineyards and understand wine production more. I'm not an expert by any means but I do have a much bigger appreciation.So I ask questions like...What goes into the pricing of a bottle of wine?What are the differences between the most and the least expensive?How does production or distribution impact the pricing?You've probably wondered about it yourself. And if you're a startup or business that has to set prices for wine then the biggest question you've probably got is "How do I find the right price?"You're in luck I've got just the lady for you.In this Episode:This time I've brought on a guest who is an expert in all things wine and spirits-related. Ruchira Neotia, owner of Neo Margarita Ltd., is a London-based drinks professional with a passion for the art of crafting exquisite drink experiences - across wine, spirits and saké. At the heart of Ruchira's expertise is her talent for creating harmonious connections between food and beverages. As a consultant, she excels at developing optimized drink lists for restaurants that perfectly complement the culinary offerings, enhancing the overall dining experience.She comes on the show to help us navigate from vine to wallet wine and spirits pricing. Ruchira shares with us some real insights into what we are paying for as well as some great tips for those who have to set prices for wine and spirits in their business.Enjoy the episode!Podcast Highlights:0:00 Intro1:35 Meet Ruchira3:02 What does her business offers5:11 How the Process influence the Pricing10:31 Exploring the Complex World of Wine Importing and Production14:54 How Margins, Volume, and Customer Experience Come into Play24:04 Sustainable Practices and Wine Pricing28:35 Pricing Spirits vs. Wine35:56 Striking a Balance40:55 Today's takeaway & Wrap upHow to reach Ruchira:Instagram: https://www.instagram.com/ruchneo/LinkedIn: https://www.linkedin.com/in/ruchiraneotia/What’s Next?Let’s TalkLooking for pricing support or interested in a partnership? Start here.Connect on LinkedInConnect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.Why Pricing Feels So HardCurious why pricing feels so difficult? Explore the decisions behind confident pricing. Mentioned in this episode:The Pricing Lady is a proud member of the SwissCast NetworkDiscover more great podcasts for English-speaking SwitzerlandSwissCast Network