Latest / Early Edition with Ryan Bridge / Liz Wheadon: General Manager of Normanby Fine Wines on growing retail confidence, launching a business early next year

Transcript

Liz Wheadon: General Manager of Normanby Fine Wines on growing retail confidence, launching a business early next year · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Retailers. This is good news this morning. Retailers are saying
• 0:03
  Speaker 1: they're seeing some light at the end of the tunnel
• 0:05
  Speaker 1: as the economic times begin to change. The latest quarterly
• 0:08
  Speaker 1: survey from Retail ends ED shows sixty five percent of
• 0:11
  Speaker 1: retailers are confident or very confident that their business will
• 0:14
  Speaker 1: survive the next twelve months. Still doesn't sound great, but
• 0:17
  Speaker 1: it's better than the fifty eight percent last quarter. Meanwhile,
• 0:21
  Speaker 1: fifty seven percent think they will meet or exceed their
• 0:24
  Speaker 1: targets in quarter of four. That is up from just
• 0:27
  Speaker 1: thirty two percent in the last survey, so a big
• 0:30
  Speaker 1: jump there. Liz Whedon is the general manager of Normanby
• 0:33
  Speaker 1: Fine Wines, a new retail business that's starting up in
• 0:36
  Speaker 1: February next year. Liz, welcome to the show.
• 0:39
  Speaker 2: Thank you, good morning, good.
• 0:41
  Speaker 1: Morning, brave time to be starting a business.
• 0:45
  Speaker 2: Yeah, it is. I think you know, as you just said,
• 0:50
  Speaker 2: of those numbers, there's some positive scientis in the market.
• 0:57
  Speaker 2: I don't you know. This year has been tough for retail,
• 1:02
  Speaker 2: but started to see some positive signs and we see
• 1:07
  Speaker 2: it is a good time to look at starting a
• 1:10
  Speaker 2: new business.
• 1:11
  Speaker 1: Have you done this before, been in business before, been
• 1:14
  Speaker 1: in the fine wine business before. Is this a completely
• 1:17
  Speaker 1: new venture for you?
• 1:19
  Speaker 2: So career career retailer, and I've worked in the wine
• 1:26
  Speaker 2: industry for the last thirty years, have bat slightly longer,
• 1:31
  Speaker 2: but last thirty years, so very familiar with the industry.
• 1:35
  Speaker 2: And you know, it's I don't I think whilst you know,
• 1:39
  Speaker 2: those steps are shown that there's signs of the market
• 1:43
  Speaker 2: looking better, it's still not great right now. I think
• 1:48
  Speaker 2: you know, this period into Christmas is where all retailers
• 1:53
  Speaker 2: really need a strong trading period, and I think that's
• 1:58
  Speaker 2: starting starting to come right. But certainly we see by
• 2:02
  Speaker 2: you know, cep jury next year, which is when we're
• 2:07
  Speaker 2: all the date we've put down to open normally fine wines,
• 2:11
  Speaker 2: that we should be seeing a different trading pattern to
• 2:15
  Speaker 2: what retailers who have endured so far.
• 2:17
  Speaker 1: Yeah, you might actually fingers crossed, you might actually have
• 2:20
  Speaker 1: time but just right, we might.
• 2:24
  Speaker 2: We might have timed it's just right. Maybe a little
• 2:26
  Speaker 2: bit of experience there, but yeah, I mean it's also
• 2:28
  Speaker 2: it's a hard market to read in all the conditions
• 2:32
  Speaker 2: that have put it to where it is. Now. Certainly
• 2:35
  Speaker 2: a hard market to read. But yeah, very very encouraging. Yeah,
• 2:41
  Speaker 2: it definitely feels I think right now, there feels like
• 2:44
  Speaker 2: there's an optimism there, so hopefully we're reading that right
• 2:48
  Speaker 2: and it's a good time to open a new business.
• 2:51
  Speaker 1: Best of luck to you, Liz, and as I say this,
• 2:53
  Speaker 1: the quarterly survey results from retailing z out this morning
• 2:57
  Speaker 1: should be a sign of some op for you. That's
• 3:00
  Speaker 1: Liz Weed and the general manager of Normanby Fine Wines.
• 3:03
  Speaker 1: If you haven't heard of them, it's because they haven't
• 3:04
  Speaker 1: even started yet. They're kicking off business in February next year,
• 3:08
  Speaker 1: twenty three minutes after five. I should say that the
• 3:11
  Speaker 1: survey is good, but it does still mean that the
• 3:13
  Speaker 1: remaining forty three percent don't think they will meet their
• 3:17
  Speaker 1: targets for quarter four. For more from Early Edition with
• 3:21
  Speaker 1: Ryan Bridge, listen live to news talks there'd be from
• 3:24
  Speaker 1: five am weekdays, or follow the podcast on iHeartRadio