In terms of the retail landscape, Wells Fargo Securities’ market research suggests that tanks, mods and personal vaporizers hold the lion’s share of the market, constituting about $3.5 billion, compared to e-cigarette products at $2 billion. Vape shops still dominate retail sales of tanks, mods and personal vaporizers, accounting for approximately $2 billion of overall revenues, with sales in c-stores, food, drug and mass retailers of about $650 million and tobacco shops and online outlets accounting for about $850 million in sales. C-stores, food, drug and mass retail channels, however, continue to account for the bulk of e-cigarette sales ($1.1 billion), with online and other retail channels together doing $900 million in e-cigarette sales.
This story first appeared in the May/June 2018 issue of Tobacco Business magazine. Members of the tobacco industry are eligible for a complimentary subscription to our magazine. Click here for details.
– Story by Jennifer Gelfand, editor in chief of Tobacco Business Magazine