6 Surprising Facts About the Growing Vape Industry

6 Surprising Facts About the Growing Vape Industry

By Blogtrepreneur

Vaping is on the rise in the United States and around the world. Millions of Americans are regular vape users and an estimated 12 million have tried an e-cigarette at least once. As interest in vaping increases, the industry continues to grow in exciting and surprising ways. Here are some interesting facts about the vaping industry that you may not already know.

1. Vaping has its own conventions

There are conventions for everything these days, from comic books to whiskey, so naturally the massive popularity of vaping has led vape users to form their very own conventions. Vapefest is one of the most widespread of these events, happening in cities around the world. In 2014, The Washington Post sent a reporter to cover Vapefest and learned that one of the things bringing vapers together isn’t just that they enjoy the habit, but that it has helped them kick other, more dangerous habits.

“They found this, and they were able to get off cigarettes, and they’ve become very passionate about it,” Cheryl Richter, the financial secretary of the National Vapers Club and owner of an e-cigarette shop in Port Chester, N.Y., told the Washington Post. “Now vapers like to hang out with other vapers, and we don’t like to hang out with smokers at all, because we hate that smell now.”

Along with Vapefest, there is the annual Electronic Cigarette Convention, where vape shop owners and vape manufacturers can meet up and talk about this ever-changing industry. As the popularity of vaping continues to grow, it’s likely that the number of conventions and meetups designed to connect vapers and vape shops will increase as well.

2. There are vaping competitions

If you’re a seasoned vaper with a competitive spirit, you can take part in vaping competitions where users square off to see who can create the most impressive clouds and do the best tricks. Some of these competitions include the International Cloud Championships and the World Series of Vape. This is a great way to show off your skills while also meeting fellow vapers who can teach you some new tricks.

3. Vape shops are making real money – and convenience stores don’t stand a chance

Another thing many people may not realize is the massive success of vape shops in the U.S. According to a 2015 survey of vape shop owners conducted by the Management Science Associates (MSA), respondents reported making between $10,000 and $50,000 a month in brick and mortar sales.

With that level of success, it’s no surprise that vape shop owners don’t view convenience stores as a major threat to their business. According to the survey, when owners were asked which channels are the biggest threat to their revenue stream 60 percent said online retailers, 56 percent said other vape shops, 15 percent said tobacco shops, and just 9 percent said convenience stores.

There are likely two major reasons why convenience stores don’t pose a major threat to vape shops. First, many people come to vape shops to not just purchase a device and some vape juice, they come to learn more about vaping and get insight from shop owners on the best types of devices to use, information on mods, and tips on how they can learn to do tricks.

Second, vape shops have a far greater inventory of devices and juices that your average convenience store, giving people the power to choose. For example, the MSA survey found that the average vape shop has 542 e-vapor SKUs, compared to the average convenience store where you’re likely to only find a small selection of devices, many of which are just basic e-cigarettes.

4. The United States is leading the way in vape use

According to research conducted by the U.S. Centers for Disease Control and Prevention, the U.S. is the world’s leading vape market. More than 9 million Americans vape, which leads to more than $3.7 billion a year in sales for the vaping industry. Compare this to our neighbors to the north, Canada, where less than 1 million people have used a vape in the last 30 days and only slightly over 300,000 individuals vape regularly and it’s clear that the U.S. is king when it comes to vape use.

5. Fruit and food-flavored juices are in, tobacco is out

It’s a common misconception that the majority of vapers are trying to recreate the experience of smoking a cigarette and choose tobacco and menthol-flavored juices. In reality, only one third of vape shop owners surveyed by MSA said that tobacco and menthol flavors were important parts of their business.

Don Burke, senior vice president at MSA, explained that while many vape users start out with tobacco flavored juice, once they move on the fruit flavors they never go back. This is yet another example of the many ways vaping differs from traditional cigarette smoking. Not only is vaping safer than using traditional tobacco products, it provides users with a greater range of flavor options to help keep things interesting.

6. Vape shop owners prefer to buy through alternative channels

Most businesses purchase their merchandise through traditional wholesalers, but not vape shop owners. According to the MSA survey, 40 percent of owners purchase vape juice from other vape shops, while 57 percent purchase from online wholesalers.

Conclusion

Clearly, the vape industry is on an upswing and the popularity of vape shops, juices, and devices is skyrocketing. If you’re interested in learning more, stop by your local vape shop or visit a vape retailer online where you can not only purchase your own device, but get important information about this growing industry. You may be surprised by what you learn. Do you vape? What are your favorite brands and flavors of e-juice? Leave us a comment in the section below

The post 6 Surprising Facts About the Growing Vape Industry appeared first on Blogtrepreneur – For Busy Entrepreneurs.

      

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