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'Wine critic sees glass half empty' blog discussion
in Martin's blogs & appearances & MoneySavingExpert in the news
8 replies 2.2K views
Former_MSE_Lee Former MSE
This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.
Read Martin's "Wine critic sees glass half empty" Blog.
Please click 'post reply' to discuss below.
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Supermarket wine is often worth only £4.99 a bottle, which the wine Buyer is quite aware of and is bought in on that price; the Buyer initially prices it at £7.99 so they can knock off £3 and the shopper thinks they've got a bargain. Supermarket shoppers can be easily misled.
Wine bought from a wine merchant is a very different kettle of fish, the target market will be substantially different from that of a supermarket.
Radio 2's programme was about price framing as a marketing ploy - the offer of half price on a £10 bottle of wine is price marketing because the wine has probably never sold in any quantity at £10. The higher price is to put a high value in your head and then offer it for a so called limited period at half price and it works as a call to action.
One of the best pieces of advice I've read was by a behavioural economist explaining the dark arts of price framing. Economists regard taking the higher price in a price frame into account as a cognitive error and once this is pointed out it seems obvious.
The £10 wine was never worth £10 and probably not even £5.
Totally agree. I recently opened an independent wine merchants, and a from a wide range of suppliers there is very little drinkable that can be retailed at less than £4.95 and still deliver a reasonable profit margin. As for the 'half price' wine offers in supermarkets they are an absolute joke. These wines have never been in the ten pound bracket. They are stuck on the shelf at that price for a few weeks so they can then be put on offer at 'half price'.
An example, we sourced a Gran Reserve Monastrell from Jumilla in Spain which we could buy in and sell at £5.99 for our target gp of 30%. Imagine my surprise when I saw exactly the same wine on sale in my local Sainsbury for £11.99, only to be reduced to 'half price' £5.99 a couple of weeks later !! Now, at £5.99 it is a great value wine, but £12 a bottle it isn't.
Just feel sorry for any mugs who actually paid £11.99 for it. Cost me £3.50 odd a bottle for a pallet, what price do you think they paid for however many hundred pallets of it Sainsbury's bought ??!!
Anthony Rose: "The suggestion that the depressing cheaper one was better because it was cheaper lacked conviction"
Martin Lewis: "Now I’ve been accused of many things in my time, but it’s the first time anyone’s ever said I lack conviction"
Stating that an argument lacks conviction is completely different from stating that a person lacks conviction.
What Messrs Lewis should really take issue with is the fact that at no point does he claim that the cheaper tree is better because it is cheaper, thus the claim that he did is unfounded.
So on to the cheaper tree, which in the opinion of Messrs Rose was "depressing". In response to this Messrs Lewis states, "where he’s wrong is the tree decorated with cheaper stuff was by far the nicer and much more jolly of the pair".
Stating that an opinion in relation to aesthetics is wrong is a strange concept and had the impartial Anna Richardson stated in her impartial opinion that the more expensive of the two trees was nicer and jollier, would Messrs Lewis have told her that her opinion was wrong, in the same way he states that the opinion of Messrs Rose is wrong?
So to the article itself wich one should note is titled "When it comes to matters of taste it’s a false economy not to take the upshift challenge"
IMHO the article makes perfect sense, particularly given the caveat included stating "So let's not be too Scrooge-like this week but give ourselves the option of choosing great value or upsizing to great quality in a variety of styles suitable for the festivities"
If one should try brands 30% cheaper to see if they are as good or good enough to make the saving justified, does it not make sense to try brands 30% more expensive to see if they are twice as good and thus if the expenditure is justified?
The irony is that if one reads what Messrs Rose has actually written, he recommends a supermarket own brand, discounted wines and is pretty much singing from the same hymn sheet as Messrs Lewis, albeit with a value bent rather than flat out cheapness.
Loophole - A word used to entice people to read clearly written Terms and Conditions.
Rip Off - Clearly written Terms and Conditions.
Terms and Conditions - Otherwise known as a loophole or a rip off.