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Feature
SB meets… Liam Belton, Master of Malt Trade
Since its relaunch in 2021, Master of Malt Trade has seen triple-digit growth. Trade lead Liam Belton chats about operating after Covid lockdowns, the impact of duty hikes, and the trends he predicts will stand the test of time.
*This feature was originally published in the May 2024 issue of The Spirits Business magazine.
What is involved in being trade lead at Master of Malt Trade?
My role touches every aspect of the business. From shaping the strategy to the planning and execution of commercial activities, monitoring performance of the portfolio and accounts, through to working with the marketing team to take our message to the world.
How have the past couple of years been for Master of Malt Trade since the relaunch?
The success and growth since 2021 has been phenomenal. We’ve seen 450% growth from our already solid base in those years. We have been growing and expanding our customer base, incorporating all key channels including to other wholesalers. We rebuilt our website so that it is more in line with the experience and responsiveness of a direct-to-consumer platform, and expanded our team to take on further sales and marketing capacities. We also won distribution company of the year in 2022 (runner-up 2023) from the drinks business, which was real testament to not only the changes that we made for the relaunch, but also our service during Covid – we try to live by our motto ‘by the industry, for the industry’ at every turn.
What are some positive changes you’ve observed that have stuck around since the Covid-19 lockdowns?
We have really seen an increase in ‘just in time’ stock control, whereby customers are reducing stock holdings and taking advantage of our commitment to no-minimum-order value and next-day delivery. This more flexible responsive approach means customers can explore drinks and serves without the commitment of huge stock orders, and can focus cash flow on their trading patterns. It also enables consumers to stay engaged and excited about a venue’s offering.
What impact has the 10.1% alcohol duty hike in the UK had on Master of Malt Trade and its customers?
We took a short-term hit to roll back all alcohol duty increases on pricing through to August 2023. This allowed us to ease in our customers and gauge what was happening in the market, and the impact it might have on our business. We found that these increases affect the end consumer as businesses pass on these costs.
Which trends are here to stay?
Value and brands. Competitive pricing or perceived value-add, whether that be incentives, point of sale, or experiences, but pricing is key here – we’re going to see a tightening of belts for a while still. People are also still highly loyal to brands, and this usually changes when times are tough. Our most successful campaigns tend to combine the two, when we’re able to create good value around recognisable brands and products.
What makes the Master of Malt Trade Round Table Series beneficial?
We really see these as a chance to facilitate open dialogue and conversations between suppliers and trade, to create better understanding of how to support each other. These sessions also offer the chance for people to ask direct questions to our panel – leading figures in the drinks retailing industry – who they might not otherwise have exposure to.
What do the next 12 months have in store for Master of Malt Trade?
The past 12 months have seen huge growth, very quickly for us, so for the next year we want to take stock of where our continued growth will come from. We have been known as a specialist spirits wholesaler, but due to our competitively priced range our customers are choosing us as their main wholesaler.
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