Is the Vaping Industry in Decline?
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There seems to be a negative story in the media nearly every day about the harmful effects of vaping. Adding to that are the regulations governments have bought in. Which all beg the question, is the vaping bubble about to bust? And if so, how will that affect vapers, online vendors and store owners? Well, all is not doom and gloom, as we look at why you shouldn’t be so quick to panic.
It’s fair to say that a certain part of the vaping industry has been saturated; this is where too many have entered the market, for example, the e-liquid product range. We know it doesn’t cost a lot to make your own e-liquid at home and sell them through, say e-bay. Some vapers, understandably, will prefer to buy e-liquids for under a fiver than pay a premium price from their high street vape store. This makes it difficult for vape shops to compete as running a store is a little more expensive than maintaining an e-bay shop! Adding to this problem is the fact that many people have set up online shops, making the competition even fiercer.
Despite all the above, the most obvious issue to harm the vaping industry is the health scare. Claims that vaping is more dangerous than cigarette smoking and the apparent deaths related to vaping have led many to question the safety regarding vaping. Therefore, let’s demystify some of these.
Cigarette manufacturers are too aware of the impact of vaping to their bottom line profits. Since about the mid 2000’s, vaping has seen a steady increase in sales, while tobacco sales have gone down. Adding to their problem is the fact that more and more research by established bodies such as Public Health England keep confirming that vaping is nowhere near as bad as smoking cigarettes. This has led tobacco companies to fund quasi-scientific research in order to show vaping in a negative light. Read any established research and the evidence is pretty clear. Vaping is nowhere near as harmful compared to cigarettes! Cigarettes contain thousands of chemicals that harm the body in every way possible.
There is Still an Opportunity
The vaping industry is not dead – Trust me. The whole nature of vaping means that every so often you need to buy e-liquids, coils, and change batteries. This is different to buying, say a car. Some vendors understand this and have found ways to bring in customers and keep their loyalty. For example through loyalty programmes that ensure repeat customers get access to better discounts and deals.
Service is key. Quite often a new vaper will have questions about what sort of device they should get or what coils will give them a smoother taste or throat hit. As a vendor if you are able to educate and help your customers, they are much likely to come back. In addition, especially with e-liquids, most want to try out before they buy. Many good vape shops offer this service. They have vast selection of e-liquids where you can go in and try a dozen or so flavours before actually making the purchase.
Quality is Still Appreciated
For many vaper’s, getting the right e-liquid flavour is still one of the key factors in determining whether they stick to vaping or go back to smoking cigarettes. Here we’re not only talking about the flavour itself but the quality of the taste as well. A quality e-liquid will have a rich taste and give a better vaping experience compared to the cheap low quality version that you normally buy from some unknown vendor. Therefore, the regular vaper will pay those extra few pounds in order to get their products from a reputable vendor and enjoy a positive vaping experience.
Cigarettes are expensive. Let’s face it, with the struggling economy and rise of cost of living, being a smoker is pretty hard on your pocket. Ask any vaper who was an ex-smoker the reason why they switched to vaping. The chances are cost was a major factor. Read the post How Much Does Vaping Cost? to see the difference in cost between a smoker and a vaper. Therefore, a vaper who is concerned with the financial aspect of their life is more likely to persevere with vaping before going back to smoking cigarettes.
Fashionable to Vape
Whether right or wrong, there seems to be a trend, especially amongst the younger vapers where vaping has caught on to be a fashion statement. There are increasing numbers of vapers who had never smoked cigarettes that are now vaping. Morally whether this is justifiable, I’ll let you consider that. However, what it means for the vaping industry is the fact that there is a wider audience for them to sell their products to.
Final Thought: Is the Vaping Industry in Decline?
With the increasing number of new players in the market, it can be daunting as a vendor. However, if you stick to the principle of offering good service along with ensuring quality products to your customers, I don’t think you need to worry. Big corporations will always try to ensure they protect their interests. Even at the cost of ignoring established facts. At least in the current time… Is the vaping industry in decline? Not at all!