Have you ever wondered about how the e-cigarette and vaping industry has begun to evolve for the better? This new nicotine product has been sweeping the global market, all thanks to it being a safer and more accessible for people worldwide. Free from any traditional byproducts of combustion cigarettes, it’s healthy and lessens the addiction. The e-cigarette industry has boomed from just making $20 million in sales back in 2008, growing into $2.8 billion in revenue in 2015!
But how did that happen? I’ll be showing you some of the lessons businesses should learn about how products like the tape pen and CBD gummies have changed the cigarette business. 5 interesting things about this industry you must know and learning that can help you in some ways.
- It’s Cool AND Less Harmful!
One of the main reasons as to why people begin moving from the former cigarette to tape pens and the like is because they are trying their best to control their nicotine addiction. Yes, it is challenging to quit the stick, and the next best option is to find a safer way to either continue smoking or to gradually lessen it.
With vaping, consumers are able to have the less harmful effects and it proves that smokers can “have cake and eat it too,” motivating them to make that switch. Not only that, but it has been known to be a cheaper alternative to actual smoking as well.
- A Youthful Rebellion
Surely, as children, our parents have always told us to NEVER smoke and that the act is bad for our health. It’s also illegal for those under 18 to start smoking. But because vaping is safer that smoking, it would still give users the feeling that they are consuming nicotine.
So if you have a product, like e-cigarettes, which can be seen as one that can provide the youth freedom and a way to safely rebel, then you can have the product look cool and market it successfully!
- More Accessible Compared To Cigarettes
Today, not only has technology changed the way people smoke but the way we show. It is now deemed more convenient to shop online at home as compared to going to a store and hassling yourself. Another plus is that businesses are taking advantage of this added convenience, with free platforms allowing suppliers to connect with consumers and create their own stunning website for marketing and brand imaging.
With the vaping community, the image is an important factor, which draws people. And with the Internet, one is able to create a simple-to-navigate website where people can easily find them and begin shopping!
- Regulatory Obstacles
Remember that even if there are many benefits that make tape products sellable, you must make sure that you deal with regulatory obstacles and follow the conventional business concepts. Startups forget about these, usually failing to make the business or engaging in rapid expansion too early in the business.
Just remember that no matter how new your product and business is, conventional wisdom will still apply and that you must make a flexible business model to easily adapt to the changing circumstances. Always keep an eye on changes that can impact the industry as well to avoid obstacles!
- More Planning For Tomorrow
And lastly, there will still be a lot of things to learn about the vaping industry. While you may think it will be sellable today, you never know what happens tomorrow. Like mentioned, keeping track with the latest trends and continuing to learn and plan from what you have experienced in the past is the best way to move forward into the future.
It’s crucial for entrepreneurs and businesses to learn all about the rise of vape shops and e-cigarette companies. Why? Because they will be able to learn how to create effective marketing strategies, know what to sell, and create smarter decisions that grow to be effective. As a result, you will not only help provide healthier options for consumers, but you also grow as a company while learning more about how to keep rising!
Hopefully, these lessons on the vaping and e-cigarette industry have helped you decide what your next move should be. So don’t wait any longer and begin making any needed changes today.
If you have any questions or would like to share your lessons and information on the e-cigarette industry, then comment down below. I would love to hear what you have to think.