Industry Outlook –Trends and stats
Wells Fargo Tobacco Talk SURVEY Shows Projected Growth for Vapor Industry
No doubt – The Vapor revolution is here! In just over 10 years, there is no offensive smell, now smoke devices went from novelty conversation units, to being in the hands of millions of ex-smokers worldwide. So how much as the vapor industry grown? And where is it going? Well, the people, Wells Fargo Securities Tobacco Talk have made a survey to answer this question.
The Current State of the Vapor Industry
30,000 retailers were poled across the nation; the survey brought some interesting results and stats about the strength of the vapor industry
– retail revenue @ $300 million in and 2.5 million Vapor users
– 73% of people polled said vaporizers are not going anywhere
– 35% of people polled project rate of 40% annual growth
– Vapor Style was cited as one of the top two emerging types.
Where is the vapor industry headed?
– Such beginning success is just the start. The vapor industry is strong (and only going to get stronger). Have a look at a few of the other key takeaways from the poles and survey:
– over $1 billion expected growth revenue within the next few years
– Number of Vapor users to multiply 4 times by 2014
Smoking is already banned at beaches, parks, restaurants and near buildings in Santa Monica, but the city council sought to expand that prohibition and voted 4-2 to ban smoking for all new tenants of apartments and condos inside their residences