Last week I read an article which looked at the current situation of the tobacco industry from a business perspective. They have a long list of problems, and not just declining sales overall. The article was mainly looking at the profit and investment side of the industry.
Customers are switching from premium brands to less profitable basic cigs in huge numbers. vaping is eating into their customer base on top of the general drop in tobacco use. One company dropped the price of a premium brand by 50% and changed it from the premium heavy embossed carboard boxes to basic lightweight cardboard hoping it would change the picture. Others reduced premium prices by lesser amounts. I forget all the details but the whole industry is in turmoil with profits going through the floor. They are experimenting with HTB and vapes as part of their attempt to rein in the chaos and slow their downward trajectory.
One odd thing. There was no moralizing about vaping or smoking, but every reference to vape referred to them as "illegal vapes". That wasn't discussed but I assume it was a reference to the fact that virtually no vapes have been approved yet so I guess they are technically illegal.
Customers are switching from premium brands to less profitable basic cigs in huge numbers. vaping is eating into their customer base on top of the general drop in tobacco use. One company dropped the price of a premium brand by 50% and changed it from the premium heavy embossed carboard boxes to basic lightweight cardboard hoping it would change the picture. Others reduced premium prices by lesser amounts. I forget all the details but the whole industry is in turmoil with profits going through the floor. They are experimenting with HTB and vapes as part of their attempt to rein in the chaos and slow their downward trajectory.
One odd thing. There was no moralizing about vaping or smoking, but every reference to vape referred to them as "illegal vapes". That wasn't discussed but I assume it was a reference to the fact that virtually no vapes have been approved yet so I guess they are technically illegal.