MONTREAL, Nov. 8, 2024 /CNW/ – The Société des alcools du Québec (SAQ) has announced a slight increase in its markup on all products except “Value Pick” wines priced under $12. The adjustment will take effect on February 2, 2025.

“Our markup has increased only once since 2017, in February of this year, with the increase being implemented in May,” explained Édith Fillion, the SAQ’s Vice-President and Chief Financial Officer. “That is why, as publicly announced, we now review the markup on an annual basis. This allows us to the markup reflects changes in our costs and financial environment.”

The SAQ is announcing the increase today to give its suppliers time to adjust in the lead-up to the next price negotiation period, as scheduled in the company’s price adjustment calendar.

Prices still competitive

The SAQ’s commitment to offering fair and competitive prices to its customers remains unchanged. For example, the markup on a $15 wine will increase 0.3%, corresponding to a retail price increase of approximately $0.05. For a $45 bottle of spirits, the markup will increase 3.4%, equivalent to a retail price increase of approximately $1.50.

“The depth of our product offer and the quality of the advisory service provided by our in-store colleagues mean that every customer is able to find a wine or spirits that fits their budget and meets their expectations,” Ms. Filion said.

SAQ prices explained

It should be noted that the markup is only one of the components making up product sales prices at the SAQ. Specifically, it is a percentage of the profit that the government corporation applies to the products it sells. The markup allows the SAQ to cover its operating costs and make a profit, which is remitted to the Quebec government.

To understand all the components of the price paid for a bottle of wine or spirits, see the Breaking down SAQ prices page on the SAQ.COM website for a clear and transparent explanation of the subject.

About the Société des alcools du Québec (SAQ)

Created in 1921, the SAQ imports, distributes and sells a broad range of wines, beers and spirits. Its sales network comprises 410 stores and 423 agency stores located throughout Quebec as well as a transactional website, SAQ.COM. Driven by the passion and know-how of its 7,000 employees, the SAQ offers Quebecers a world of discovery, with more than 40,000 products from 6,000 suppliers in 79 countries. In fiscal 2023-2024, the SAQ remitted more than $2.2 billion to the Quebec government and supported some 250 organizations and events while also ensuring its business activities respected local communities and the environment.

For more information, visit the SAQ.COM website, follow us on X (@LaSAQ_officiel) or view our Facebook and LinkedIn pages.

SOURCE Société des alcools du Québec (SAQ)

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