“Big Tobacco Has Officially Lost Its Hold on the E-Cigarette Market”
For all the talk of big tobacco’s e-cigarettes tasting like crap and not representing what consumers want, cigalikes have still made up the majority of the American electronic cigarette market. Until now.
Refillable mods and nic-juice sales have officially overtaken cigalike sales, according to a new analysis by Wells Fargo Securities.
In its new Tobacco “equity research” report, Wells Fargo analysts note that market growth of big tobacco-owned brands of e-cigarettes has drastically declined year-over-year (the report is available to people who have investing relationships with Wells Fargo but was emailed to me), and that the vaping market is booming.
Though it’s difficult to get firm numbers for vaping sales by small companies, Wells Fargo believes that people who use electronic cigarettes aren’t quitting altogether, they’re moving to refillable mods sold by small companies.Vice: Motherboard