According to the latest data from Nielsen, the revenue of the US vape industry dropped significantly in the first half of this year, with vape sales falling by 8.3% year-on-year.
The market share of Reynolds’ flagship product, Vuse vape, has declined again, and Altria Group has struggled to make progress in its acquisition of NJoy. Vuse’s market share dropped from 41.1% to 40.8%, and Juul’s market share, which ranked second in the US vape market, dropped from 24% to 23.7%. In May 2019, Juul’s share of the U.S. vape market reached 74.6%, but regulatory measures led to a sharp decline in its sales.
In light of this, both British American Tobacco and Altria Group have urged the U.S. Food and Drug Administration to step up its crackdown on illegal vapes. It is estimated that approximately half of the products currently on the U.S. vape market are illegal.
Under this circumstance, veehoo vapes, as a brand that upholds compliance principles and is committed to product quality and consumer safety, will continue to adhere to compliance principles to ensure product safety and compliance with regulatory requirements. By actively paying attention to the regulatory process and cooperating with relevant agencies, veehoo is committed to providing legal, safe and reliable vape products, providing consumers with reliable choices, and at the same time contributing to the standardized development of the entire industry.
In the fiercely competitive market environment, veehoo vapes will continue to be committed to quality and compliance, work with industry partners to promote the healthy development of the vape industry, and ensure the rights and interests of consumers and the quality of products.
Facing the challenges of declining sales and intensifying competition in the U.S. vape market in the first half of the year, veehoo vapes can take the following measures to actively respond:
- Product innovation and quality assurance: Continue to carry out product research and development and innovation, launch new varieties and flavors that meet market demand, ensure product quality and safety, and enhance consumer experience.
- Strengthen compliance supervision: actively abide by local regulatory regulations, ensure that products are legal and compliant, work closely with regulatory agencies, actively participate in the formulation and implementation of industry norms, and enhance brand reputation.
- Establish a sound sales network: expand the sales network, expand legal sales channels, enhance product coverage, facilitate consumer purchases, and increase sales.
- Consumer education and communication: Carry out consumer education activities, strengthen communication with consumers, convey product advantages and compliance information, and build consumer trust and loyalty.
- Pay attention to social responsibilities: actively pay attention to social responsibilities, participate in social welfare activities, advocate healthy lifestyles, and establish a positive corporate image.
Through the comprehensive application of the above measures, veehoo vapes can better adapt to market changes, maintain competitive advantages, and promote the steady development of the brand and the healthy development of the industry.
Tags: U.S. vape sales decline，Nielsen’s latest vape sales data，veehoo vape
