Member Article

Research reveals that vape store owners are confident of growth in 2018

The mood is optimistic among vape shop owners in the UK. New research commissioned by Philip Morris Limited found that vape shop owners and managers expect store sales to grow by around 13% on average in 2018. The findings come from a study of attitudes and expectations of 101 vape shop owners and managers across the UK conducted by Brand Potential.

Other findings of the research include:

• 83% of vape shop owners and managers expect the industry to grow in the coming year and nearly half (47%) expect to increase employment levels over the same period.

• Online sales expected to grow by around 10%.

• 77% of vape shop owners interviewed expect to expand their operation over the next three years, including opening another shop.

• To increase sales, 71% are considering investing in staff training to improve product knowledge and 67% are considering offering a wider range of alternatives to smoking.

Commenting on the research findings, Matt Tisdall, Philip Morris Limited’s Head of Sales states: “UK vape shop owners are right to be confident about the future. As more alternatives to cigarettes become available, vape shops can play a vital role in educating smokers, who would otherwise continue to smoke, about the full range of options available to help them switch.“

When asked about helping smokers looking switch to vaping, the research found that:

• 94% of vape shop owners and managers believe that support from store staff is most helpful.

• 81% believe that having a wide range of products is most useful helpful.

This was posted in Bdaily's Members' News section by Sandra Griffiths .