James Bailey of Waitrose: ‘Every business in every sector will find winter really difficult’
‘It’s like being handed the crown jewels,” says James Bailey, who was given the task of running Waitrose, the upper-crust supermarket, just as the pandemic hit. “You don’t want to be the person that drops it.”
Bailey’s unenviable fate was to arrive just as a cascade of supply chain woes and inflationary pressures made it harder than ever to convince shoppers to dish out extra cash for high quality groceries.
The affable former Sainsbury’s executive took on the job in April 2020 despite having sworn never to work in food retail again. It was Sharon White, the newly installed chair of Waitrose’s parent, the John Lewis Partnership, who coaxed him back. His first challenge was to ramp up an online business to meet staggering demand from locked-down households, all while getting to know his team remotely via video conference.
Two and a half years in, the job is arguably only getting harder, as Bailey admits that this Christmas will inevitably be more expensive for shoppers than last year. Cost prices have continued to climb after a 6% rise in the first half of the year. Inflation is not expected to abate until next year despite drop-offs in some key items such as fuel and shipping.
“Every business in every sector is going to find this [winter] really difficult,” Bailey says.
While others are desperately trying to draw in the crowds by shouting about price-matching Aldi, to reassure shoppers faced with massive increases in their fuel bills, Waitrose is taking a different tack. Its latest advertising
Age 48
Family Married to Emma, with two children: Max, 12, and Holly, nine.
Education Lewes Old Grammar School, Lancaster University.
Pay Not disclosed.
Last holiday With family and friends in Croatia.
Best advice he’s been given Not to
Read more on theguardian.com
