E-Cigarettes: New year, new way to smoke

It’s the start of a new year which means that millions of us prescribe to predictable and ever-growing ‘new year’s resolutions’ to be thinner, happier and healthier in 2014. Advertisers are as poised as ever to leap at the jugular of our insecurities to make some profit.  Among obvious opportunists such as dieting and fitness companies and dating websites, charities including Cancer Research use this time of change to promote their Dryathlon event, which raises money from people abstaining from alcohol for January. Corresponding to the idea of ‘dry January’, many consumers will attempt to forgo their 40 a day cigarette habit at the beginning of a new year. This is where the e-cigarette company NJOY, the self-titled industry “gold standard”, targeted existing smokers who wished to quit by offering up their product as an alternative, with the slogan “friends don’t let friends smoke”. NJOY have been one of the first e-cigarette companies to promote their product for its potential health benefits, which may indicate where the market will grow in 2014 and beyond.

The consumers in North America and the affluent countries in Europe are becoming increasingly health conscious, and they want the market to reflect their needs. E-cigarettes might not be a proven health tool yet, but many are choosing to view them as such. From 2016 they are going to be classed as medicines instead of consumer products if plans go ahead, making the market a battleground for companies endeavouring to capitalise on this consumer trend. Over one million people in the UK alone use e-cigarettes, and some analysts are predicting that the e-cigarette market will be worth more than the traditional cigarette market, currently over £400bn a year,  in just ten years. Most cigarette company are recognising the change, and that the association with ‘health’ means big profit potential. With massive superstores like Sainsburys and Tesco Express bringing the product to a wider market, it’s fairly safe to say that 2014 and is going to see a massive increase in the common use of e-cigarettes.

Companies are now competing to be the leading brand in the market, with some such as Nicolites going the further step by launching ‘energy boosting’ e-cigs which are enriched, similar to energy drinks, to give the consumer a stimulating rush when inhaled. Alongside this come warnings from those who say we do not have enough statistics about the long-term side effects in order to actively encourage the use of e-cigarettes. Others worry that children as young as seven will start to use them recreationally, especially if they are allowed to be advertised as glamorous, harkening back to original days of cigarette marketing in the 1920s. Many countries including Brazil, Austria and Belgium has banned e-cigarettes entirely, with Michael Bloomberg controversially changing the e-cigarette legislation in New York before finishing his term as Mayor. The EU faces a potential ban if several countries within the union decide to vote against it, but despite all these challenges the market still looks set to grow.

The key to ensuring that your business has all the tools necessary to thrive in this growing market is premium market intelligence. The Industry Report Store has a brand new report which comprehensively covers the global e-cig market, from analysis of the present and predictions for the future. It covers the market trends, drivers and challenges as well as SWOT analysis of major companies such as NJOY.

Contact us now to find out more about this report.

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Elizabeth Ryan

Marketing

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