The Juice - Trade Issue #9 - September 2021

GLWAS PRESENTS

THE JUICE SEPTEMBER 2021, ISSUE #9

Highlights Inside Q3 PRICEBOOKS SEPTEMBER CLOSEOUT WINES CHAMPAGNE SHORTAGE ISSUES ARTICLE SUPPLY CHAIN ISSUES ARTICLE NEW TO THE GLWAS BOOK THE FUTURE OF THE SALES REP ROLE ARTICLE

4 5 6

7 10 11 14 17 26 27 29

E L B A T

3

CONTENTS

F O

CLICK ON THE PAGE NUMBER TO GO DIRECTLY TO THAT PAGE

W I N E

&

S P I R I T S

R I E D E L

G L A S S W A R E

C O N N E C T E D

F U T U R E

S A L E S

O F

B Y

T H E

R E P

D R A S T I C

H A M P E R I N G

&

T O

L I N K S

A U G U S T

&

S P I R I T S

I N

F O R C E S

T H E

H A M P T O N S

I S S U E S

A R E

B U S I N E S S E S

P L A G U E

M E T R O

S H I P P I N G

D E T R O I T

G L W A S

H E L P F U L

B U S I N E S S E S

B O O K

D O C U M E N T S

C L O S E O U T S

F E E D B A C K

L I N K S

W I N E

C H A I N

M I

T H E

T O

F O R T N E Y

S H O R T A G E

D E L A Y S

H O B B L I N G

N E W

T A R A

M E A S U R E S

S U P P L Y

C O S T

C A T A L O G

A R T I C L E

C H A M P A G N E

H O W

P R I C E B O O K S

T O

S U R V E Y

P R E V I O U S

I S S U E S

Price-Books for Q3 2021 are now Available

If you would like a physical copy, please let your sales rep know.

YOU CAN ALSO DOWNLOAD THE PDF BELOW AND VIEW OR SAVE TO YOUR DEVICE! THANK YOU!

Click here for the GLWAS WINE Price-Book!

Click here for the GLWAS SPIRITS Price-Book!

CLICK HERE TO VIEW OUR ON-PREMISE RIEDEL GLASSWARE CATALOG INCLUDES PRICING & PICTURES

CONNECTED

BY TARA FORTNEY

COSTS AND DELAYS PLAGUE SHIPPING, HOBBLING SUPPLY CHAIN TO METRO DETROIT BUSINESSES

SOLD OUT! HOW SUPPLY CHAIN ISSUES ARE HAMPERING MICHIGAN BUSINESSES

THE FUTURE OF THE WINE AND SPIRITS SALES REP ROLE

CHAMPAGNE SHORTAGE IN THE HAMPTONS IS FORCING WEALTHY CUSTOMERS TO CHARTER CASES ON PRIVATE PLANES

THE FUTURE OF THE WINE AND SPIRITS SALES REP ROLE Purchasing may be normalizing, but the way retail and restaurant buyers interact with importer and distributor reps has changed for good The past 18 months-marked by economic volatility, technological advances, and social upheavalshas accelerated that evolution, driving many modifications to the way wine and spirits are bought and sold at wholesale.

Today, and increasingly in the future, the role of salesperson will require more adaptability, client understanding, digital know-how, and business savvy than ever before. "We knew the players and pieces: buyers and accounts. Now the chessboard is being reset. It's tabula rasa," says Ryan Looper, the director of De Maison East, a New York and New Jersey distributor of Spanish and French wines and spirits.

SevenFifty Daily spoke with industry members to learn how the wine and spirits sales rep role has changed and what strategies and skills are now required for success. "I don't think the sales rep of old exists; it's much more dynamic. You used to be a postman: visiting accounts, having a route. Now reps need to be more like jazz musicians." - Ryan Looper, De Maison East

ADAPTING TO AN EXPANDED ROLE Much like the pandemic forced many sommeliers and beverage directors to don GM hats as restaurants tightened their belts, wholesale managers and reps have found their roles expanding and folding into one another. "My title is area manager, but I'm currently functioning as a sales rep," says Amelia Di Marco, a New York-based area manager for wine producer Avignonesi. Whereas Di Marco would typically work with her company's distributor partners, she's now spending more time selling directly to restaurant and retail clients.

Looper emphasizes the need for his team to be problem solvers, so his salespeople don't have titles on their business cards. "When you don't have a title, it doesn't define you," he says. "The title doesn't absolve you from the responsibility of serving the account because you're not 'customer service' or 'logistics.'"

Selling alcohol now requires a more holistic understanding of the business. A salesperson used to be a wine and spirit products communicator. Now they must be an industry communicator, prepared to discuss anything from supply chain issues to how tariffs are affecting pricing. "Without the knowledge of the business, you're just showing wine," says Christian Gourdin, a Baltimore-based field sales

APPOINTMENTS ARE LIMITED-SO OPTIMIZE THEM Buyers have always been busy, but between staffing shortages, consumer excitement to get out and about, and a year-plus of avoiding in-person meetings, appointments are far more scarce. "I don't think the sales rep of old exists; it's much more dynamic," says Looper. "You used to be a postman: visiting accounts, having a route. Now reps need to be more like jazz musicians."

Gone are the days of dropping into accounts unexpectedly. "Popping into an account is less effective than it used to be, and samples don't stretch as far as they used to [when you have fewer appointments]," says Kelly Mitchell, a northern New Jersey sales rep for Skurnik Wines & Spirits. Dropping off a smaller number of bottles specifically requested by buyers is a more effective technique than the traditional practice of hauling around a full bag of samples. "It's no longer enough to know your customers; now you need to know your customers' customers." - Kelly Mitchell, Skurnik Wines & Spirits This also translates to diminished effectiveness of ride-alongs, when a producer representative would accompany reps on their sales calls. Many sources note that buyers want to be connected to makers rather than sellers-particularly because they have been cut off from producers over the past year-so prioritize ride-alongs with winemakers or distillers rather than national sales managers and brand ambassadors. Instead of relying on drop-ins, sales reps should plan their schedules around specific client needs. "Appointments now must be tied to a need," says Mitchell. "They are much more intentional by design. The amount of time spent communicating prior to the meeting has increased."

When reps do get an appointment, they need to optimize it by knowing what the buyer wants. "Accounts have less willingness to spend a long time with sales reps," says Di Marco. "Before we had 30-minute meetings. Now it's: 'How do we get their attention in 15 minutes or less?'" Use those extra minutes to do some research before the meeting. "That's homework time," adds Di Marco. "When I speak with a customer they know I understand their needs and I'm not just repeating what I told someone else earlier in the day."

CLIENT CUSTOMIZATION IS MORE IMPORTANT Now more than ever, reps need to put themselves in their clients' shoes. "You must have empathy for your customer. Not everyone has the time, dollars, mental health, or emotional bandwidth to make an appointment," says Robyn E. Lustbader, a sales representative for Lagniappe Beverage in Chicago.

At times, that may mean prioritizing buyer relationships over sales goals. "The goals have been put to the side; get the relationship right so that when things get back, we're at the front of the gate," says a sales rep at a large California wholesaler, who asked to remain anonymous.

"It's no longer enough to know your customers; now you need to know your customers' customers," says Mitchell.

Traditionally, this feedback would come through in-store tastings and the ability for a rep to grab a drink at the bar.

With reservations and bar seats in high demand, sales reps need to get creative in order to understand their buyers' customers. "Instagram is my eyes," says the anonymous California rep. "I observe changes to wine lists and drink specials." Additionally, forging relationships with store and restaurant ownership provides direct feedback about the operation's most pressing needs and offers a steady contact in time where staff is constantly shuffling.

USING TECHNOLOGY TO STRENGTHEN RELATIONSHIPS

From there, sales reps can create more individualized content for specific accounts, as Mitchell has done over the past year, rather than forwarding tone-deaf, generic email blasts. One effective technique for scaling semi-customized content is documenting client attributes like stylistic, regional, and budgetary preferences in a spreadsheet and sorting as needed.

"There is more business done virtually than ever before. That means less driving and more time in front of the computer," says Kate MacWilliamson, a San Diegobased salesperson for Kermit Lynch Wine Merchant. Social media fluency is a new prerequisite for the sales role, one that didn't exist just five years ago. Instagram can offer good opportunities to connect with those who are selling your products on the floor, but it's important to connect directly with restaurant and retail staff and not just the official client account.

Additionally, commenting and appropriately tagging relevant content tends to yield greater engagement than simply "liking" a photo. Using Instagram Stories and Live have become part of many reps' routines, and with many international producers still unable to travel to the U.S., Instagram Live tastings or conversations can serve to connect buyers with producers.

With the flood of distributor ecommerce platforms "Technology and proprietary apps allow reps to offer better service," says Gourdin. But technology isn't a fix-all. Rather, these platforms should be viewed as time-savers-time that now needs to be used to cultivate bonds with buyers. "It still boils down to relationships," says Gourdin. "If I have good relationships, people will want to see me."

Champagne shortage in the Hamptons is forcing wealthy customers to charter cases on private planes Source: https://www.thedrinksbusiness.com/ According to a report in the New York Post, wealthy patrons and residents in the Hamptons are struggling to get their hands on that most prized commodity, practically synonymous with the exuberance and luxury of the area.

The shortage is so pronounced that, remarkably, one of restauranteur Zach Erdem's billionaire customers has elected to fly in 15 cases of their own Champagne in time for a birthday party.

"The Champagne plane won't let us down," Erdem told the NY Post. "Not having champagne in the Hamptons is like Maine not having lobsters."It's not just the partygoers who are "suffering."

"I have one Russian billionaire who comes to the Hamptons for one week every summer, after stops in Ibiza, St Tropez and Mykanos," he continued. "He always drinks Crystal at breakfast. I had to tell him to bring his own or I'll be serving him a $10 bottle of Prosecco instead."

'Meanwhile, a Long Island wine and spirits merchant is profiting from the shortages after spotting them coming and gambling by buying up 500 cases of Champagne.

We're now delivering to the Hamptons for

the first time, and the No. 1 item is champagne," Blake Leonard vice president of Stew Leonard's Wines & Spirits said. "We are trying to buy up whatever we can get our hands on, as prices will shoot up in September. In the last year, champagne houses sold more than in the last eight years combined. It's supply and demand." And the Hamptons Champagne shortage is so bleak that one hotel is offering Cava as a substitute. However, if the rich and famous of the Hamptons can find it within themselves to drink something other than Champagne, we think they will be most pleasantly surprised by the consistently excellent Proseccos being produced in 2021 Update on GLWAS Champagne: GLWAS will face significant shortages on major Champagne brands like Moet & Chandon, Veuve Clicquot, Dom Perignon and Krug throughout 2023 (per MHUSA). It will also be significant (but not quite as pronounced) with smaller Champagne brands as well. The overall biggest issue we are facing with our Champagne brands are severely delayed shipping on DI's (Direct Imports). Some orders are taking 6 months, when they were taking 6 weeks pre-covid.

Sold out! How supply chain issues are hampering Michigan businesses David Cole has spent a lot of time over the past few months "scurrying around" for products that he normally has delivered in shipments. Most recently, the Great Harvest Bread Co. baker had to find honey. Before that, it was diced chicken and lettuce. At one point, the prized item was brown sugar. "Every week is a new surprise, which is OK," said Cole, who owns the Northville bakery with his wife.

"We're fortunate enough that we're small enough and nimble enough that we have a whole series of kind of secondary sources or tertiary sources." Those backups?

Think Costco, Gordon Food Service and other grocers in surrounding cities.

"We can do the driving around to get the product, but that's really not efficient, obviously, from a margin perspective," he said. These days, Cole typically needs to locate about 20% of his normal products himself. With pandemic restrictions eased, businesses have only seen more stress on their supply chains due to increased consumer demand, causing missing or delayed products. Experts point to a shortage of truck drivers, cybersecurity issues and the K-shaped economic recovery as ingredients in this supply chain squeeze.

Cole's troubles mirror those of many businesses in Michigan and beyond. It's an issue that stretches across regions and industries and has left storage closets, racks and shelves across the state less stocked than owners would like. From Detroit to Mackinaw City, for example, hotels can't get bedsheets. Golden Shoes in Traverse City has seen record sales — even by pre-pandemic levels — but the hot streak has been chilled with a lack of warm-weather merchandise like sandals. Even a grocery store chain on the west side of the state can't find pouch drinks or some types of chicken wings. And some of the items it can get cost noticeably more. And Downtown Restaurant Investments, which owns a handful of restaurants in Bay City and Midland, has a touch-and-go food menu as the products coming in change weekly. Other items like to-go boxes and alcohol have also been more difficult to get. "I've been in restaurants for 20-plus years," said Kurt Busard, DRI's chief operating officer, "and I've never seen it like this."

There is no one silver bullet causing these supply chain woes, according to Steven Melnyk, a professor of supply chain and operations management at Michigan State University. Instead, there are a handful of smaller issues all coming together to hamper distribution. One of those issues is the K-shaped economic recovery during the pandemic. This, at its surface, means that some people have fared better than others. Essentially, Melnyk said, those who were able to work from home saw little, if any, economic change, while employees at businesses that faced long-term shutdowns or layoffs experienced more noticeable financial impacts.

The former, Melnyk said, could continue to spend on products like cars. But he said automakers, not expecting such a fast recovery, slowed production and placed their bets elsewhere and now cannot keep up with increasing demand amid a global semiconductor shortage. "For people like myself — professionals, people can work quite nicely at home — we found that there was a momentary blip, and then our incomes recovered," he said. "Many of the other people found themselves in situations where they basically couldn't get back to work. So for the people who are experiencing the upper part of the 'K,' they find themselves with money." Add the national worker shortage to the economic mix. More specifically, this means there are not enough truck drivers to get items to businesses, even if they are ready to be shipped.

Ransomware and cybersecurity concerns also have become a rising threat, as hackers can disrupt supply chains by altering how many products get delivered to companies. All of these are symptoms of larger, structural problems, Melnyk said. And he said distributors have two solutions: they can either find a short-term fix until the problem disappears temporarily, or they can find the cause and remove it long-term. "If you're seeing a symptom, the first thing you learn in supply chain is you never attack a symptom directly," Melnyk said. "If you do, that's the stupidest thing in the world because what it does is it disappears from one area, pops up somewhere else, or it disappears from one time, pops up in another. You have to uncover the root cause and then act on the root cause." Price changes 'left and right' Across the state, business owners are struggling to fill the voids left by these supply chain disruptions. Consumers are finding products missing, or higher price tags if they are available, as a result.

Mike Rupp, owner and president of the Town and Country Supermarket chain in west Michigan, has noticed buyers looking to alternatives when their go-to items are unavailable. If one type of pasta is out, they look for another. No chicken wings? Try another part of the chicken, he said.

Then there's the cost: products they can get often are more expensive, sometimes up to 20% more than before the pandemic. And that means higher prices for shoppers. "We're seeing price changes coming left and right," Rupp said. "I mean 10%, 15%, even 20% increases on items, that's not unheard of right now. And I think those prices are here to stay." A change for the Downtown Restaurant Investments locations has been educating customers, according to Busard. Employees often explain the issues at hand and why certain items might not be available that day. Cole, who owns the bread company in Northville, has largely kept the pandemic-induced "skinny" menu to ensure loyal customers can at least get what they expect.

For some businesses, the supply chain's challenges have impacted orders beyond the summer.

Bill Golden, co-president of Golden Shoes in Traverse City, said ordering merchandise for next spring has been nearly flipped on its head. He has previously bought 30% of products in advance and filled in the remaining 70% later. For next spring, he's ordering 80% of products ahead of time. Golden wants to avoid a repeat of this year, when certain summertime products could not come in until fall and he had to start putting out next season's merchandise early. "September doesn't do it in Traverse City for flip flops," he said. In west Michigan, the industrial economy continues to expand, but growth has been stunted by material and price issues, according to a monthly report from Brian G. Long, director of supply management research at Grand Valley State University's business school. The overall statewide economy has rebounded almost to prepandemic levels, according to Comerica Bank's Michigan Economic Activity Index.

Add a little bit of With the economy revving back to life, Rachel Lutz has advised customers at her four Detroit women's boutiques to not wait when they see something they want. Lutz owns both locations of The Peacock Room in addition to Frida and Yama downtown. "Our customers are learning the hard way that if they fall in love with something, they better grab it quickly or it's not going to be available," said Lutz, pointing to summer dresses as a particularly hot item. "There's definitely a higher sense of urgency to the customer," she said. "If they really like something, they better grab it while it's here."

Page 1

Costs and delays plague shipping, hobbling supply chain to metro Detroit businesses Container costs from China up 260 percent from last year Suppliers and retailers risk overbuying or sitting on inventory Some costs being passed onto consumers, others being eaten by company

Have some patience for that neighbor with the unkempt grass this summer — it could be the supply chain disruptions of the past year just won't get off their lawn.

Supply chain woes, from lawn and garden equipment to the global computer chip shortage afflicting the auto industry, continue to drag down many metro Detroit businesses otherwise in boom mode from record demand. Such is the conundrum for New Baltimore-based BW Retail Solutions. Since forming as a joint venture between Weingartz Supply Co. and Ball Equipment in 2017, the company has grown into one of the nation's largest direct-to-consumer retailers of replacement parts for lawn equipment and power sports.

Sales have spiked — revenue is expected to grow by nearly 50 percent year-over-year to $100 million in 2021 — and the e-retailer cannot acquire warehouse space and employees fast enough, said Eric Hessell, vice president of operations.

But the fractured supply chain is holding it back. "The container costs are up, labor costs are up, packaging and supplies costs are up — all between 15 and 20 percent — and the costs in the end are reflected in the prices you see on Amazon and eBay," Hessell said on a recent walk between buildings at BW's warehouse and fulfillment campus, which has more than quadrupled in size from its 40,000-square-foot start four years ago. There's been little sign of relief from skyrocketing shipping costs, which stem from the near halting of international trade last year due to the COVID-19 pandemic and the unforeseen spike in consumer demand.

The average spot cost of shipping from China to the California coast was $10,503 per 40-foot container as of Thursday, a whopping 260 percent higher than a year ago, according to the Drewry World Container Index. Earlier this month in a sweeping executive order promoting more competition, President Joe Biden called out the consolidation of the shipping and rail industries for contributing to kinks in the supply chain. Take the mower blade, for example. It is far and away the highest volume product for BW, which expects to sell about 1 million of them this year. If demand had its way, the number of units sold would likely be 40 percent higher, but lack of supply has thrown a wrench into the equation.

Aftermarket parts imported from China make up around half of BW's business. Over the past six months, shipping costs from the Far East have soared by over half, Hessell said. Inbound shipping used to account for around 4.5 percent of a part's overall cost; now it's 7 percent. "We just can't get them," Hessell said of the mower blades. "They've been delayed five months. That's been really the most detrimental thing to our business is that dynamic of freight costs going up and the delays in the supply chain."

Page 2

That's not to say the neighbor with knee-high grass is totally off the hook. Replacement blades are still available from BW — which does business as Fixmytoys.com and Partdiscounter.com — just at a higher price and with fewer options.

Hessell said the cost of a blade has gone up from around $8 to $10. Much of the increase is passed on to the consumer "Doesn't sound like too much, but if you have three lawn mower blades on each lawn mower, then that set of blades you're buying might cost you four to six dollars more," he said. Or, there's the coffee mug. A typical mug sourced from Asia once cost around $1.50 for MyLocker.com LLC, a custom clothes and accessories maker based in Detroit that retails mugs online starting around $15. With increased shipping container prices, that same mug costs the company close to $1.77.

Add a little bit of body textThe 27 cents may seem a modest increase, but it represents an 18 percent price hike. Multiplied many times over on a high-volume product, and it starts eating away profit quickly, CFO Bob Kendall said. "The economic argument for international sourcing works when lower product costs more than offset the higher transportation costs of importing the product," Kendall said. "So, when transportation costs go up, it just changes the formula. As costs go up, there are fewer products where that math is going to work."

Kendall said the company is also grappling with domestic shipping price hikes for the hundreds of thousands of packages it sends each month. He said UPS and FedEx shipping costs have increased by two or three times what they were last year.

MyLocker has so far avoided passing cost increases to the customer, according to the company, but the option is on the table. "If it's just going to be a blip, maybe it's not in our best interest to pass (the cost) along," Kendall said. "We have not reacted specifically to the increase in container pricing, but we're watching it closely. We're looking at shipping overall."

In Shelby Township, Antonio Zucca runs a different type of business with the same set of problems. Electronics board maker LumaSmart Technology International Inc. is growing rapidly with plans for a $4 million expansion thanks to increased demand from clients in automotive and consumer electronics. But circuit boards and semiconductors are hard to secure these days. Zucca said air shipping costs three or four times as much as before the COVID-19 pandemic, while ocean freight is twice the price. The biggest problem though is that shipping has been so sporadic that it's impossible to maintain steady production. "We've had to adjust our production schedule dramatically," Zucca said. "It's impacted our bottom line, for sure.

We try not to pass along price increases for our customers. Ultimately, we had to for a few of our customers."

From circuit board suppliers, to tier ones and OEMs, the impact of shipping delays and resulting parts shortages has rippled through every level of the automotive supply chain. Supply issues, most notably the microchip shortage, are predicted to cost the global auto industry more than $110 billion this year, according to Southfield-based consulting firm AlixPartners.

Crain's reached out to several large auto suppliers based in Southeast Michigan, including Lear Corp., BorgWarner Inc. and Adient PLC. The companies declined to comment on the issue. Many of them are in a quiet period before earnings are released the week of Aug. 2. OEMs generally bear the brunt of increased shipping costs, but suppliers suffer from delays, said John Taylor, chair of the department of marketing and supply chain management at Wayne State University. To prevent assembly lines from idling, automakers will often demand that suppliers keep a large amount of "just in case" inventory and penalize them for failure to deliver. "It costs a lot of money to sit on inventory," Taylor said. "You have to finance it, store it ... it goes obsolete. You want a solid, rapid flow of goods from around the world."

Page 3

Without that, suppliers are forced to guess how much inventory they need, while factoring in the uncertainty of when it might actually arrive, Taylor said. The guessing game has become a familiar one across industries. At MyLocker, Kendall is preparing for the holiday season — the "Super Bowl" of sales for the company. He has one of two plays: overbuy early and risk sitting on unsold goods, or wait too long and risk being sold out of product in the fourth quarter. He looks to last year to help formulate a game plan. "There were container shipments we expected to receive in November 2020 that didn't arrive until May 2021, which meant we had to source product domestically at higher prices to meet holiday demand," he said. "When you're doing domestic backfill, you're basically buying it twice."

As the holiday retail season looms, supply chain disruptions are not likely to let up, said Ravi Anupindi, professor of operations research and management at University of Michigan's Ross School of Business. That's largely because the root cause — the COVID-19 pandemic — has not been eliminated. "It's a supply demand mismatch, and a mismatch over a different time period because different countries are in different phases (of the pandemic)," Anupindi said. "Retail demand completely collapsed, but now people are stocking up, which causes even more congestion."

A recent COVID-19 outbreak in Guangdong, a major coastal province of China responsible for a quarter of all the country's exports, has posed another threat to the supply chain. According to the U.S. Census Bureau, more than $7.4 billion of goods flowed last year to Michigan from China, the state's third largest exporter behind Mexico and Canada. The pandemic status of those countries directly impacts trade, Anupindi said. "It's not enough for us as a population to be vaccinated," he said. "We need to make sure that the countries we do trade with are as well." Most executives and experts agree that the vexing supply chain issues beat the more damaging alternative of a collapse in demand.

For BW, that means what could have been a phenomenal year will likely be just a good one. The company is projected to turn a $4 million profit in 2021, flat with last year when it hit break even, Hessell said. The company is plowing ahead with expansion in Chesterfield Township, signing earlier this month a lease for another 65,000-square-foot building in the industrial park. It likely won't be the last. "The reality for most e-commerce businesses is COVID has made a lot of people a lot of money," Hessell said.

new to the glwas yay portfolio.

click here for price list.

CLICK HERE FOR PRICE LIST

CLICK HERE FOR THE FULL PRODUCT LIST & PRICING

CLICK HERE FOR THE FULL PRODUCT LIST & PRICING

CLICK HERE FOR THE FULL PRODUCT LIST & PRICING

CLICK HERE FOR THE FULL PRODUCT LIST & PRICING

Links to Helpful Documents

CHECKOUT OUR SEPTEMBER CLOSEOUT LIST! EVERYTHING NEW IS HIGHLIGHTED YELLOW! THESE GO FAST, SO LET YOUR SALES REP KNOW ASAP IF YOU WANT SOMETHING SHIPPED! CLICK HERE TO VIEW CLOSEOUT LIST

Do you want to see something in the next issue of The Juice? Have some feedback for us?

Please share it! Follow this link to comment, ask questions, offer suggestions or make a request.

Click Here

APR ISSUE

MAY ISSUE JUN ISSUE JUL ISSUE AUG ISSUE

PREVIOUS ISSUES

MAR ISSUE

S K N I L

FEB ISSUE

O T

SEE BELOW FOR LINKS TO ALL OF THE PREVIOUS ISSUES FROM 2021. PLEASE NOTE THAT PRICING FROM PREVIOUS ISSUES MAY NO LONGER BE VALID.