The rise of vaping
The vape market has been witnessing a shift from traditional smoking to vaping and shows no sign of slowing down anytime soon. Unlike some rechargeable e-cigarettes, such as IQOS, that can only be refilled with the company’s own brand of cartridges, vaping products such as Vuse can often be re-filled with e-juices produced by more than one company. As a result, vaping can be substantially more cost-effective in the long run than traditional tobacco cigarettes and rechargeable e-cigarettes.
According to Marius van Heerden, FreshStop Senior Buyer, from March 2021 to Feb 2022, sales of vape devices and e-juice grew by 400% across all FreshStop stores combined. Another factor contributing to the popularity and growth of vape products is the introduction of new and attractive e-liquid flavors and blends of fruits, beverages, and sweets with varying levels of nicotine, starting from zero. Certain factors, such as the shift from smoking to vaping, increased market consolidation, and increasing availability of e-juices/flavours, are likely to contribute to the growth of the vape market.
Figures from FreshStop Centenary in Gqeberha alone saw a steady increase in vaping products over the duration of a year and in its fourth quarter, sales of vape products and electronic cigarettes exceeded sales of regular tobacco cigarettes.
“This is definitely a space we need to be present in. In addition to offering Store Retailers the opportunity to grow their overall sales in the tobacco category, the sales of vaping products, disposable and non-disposable, can also potentially yield a higher profit margin,” concludes van Heerden.