Wells Fargo Securities identified several “takeaways” from its second annual e-cigarette conference in New York City on Nov. 20.
The e-cigarette category continues to offer considerable opportunity for both traditional tobacco companies and independent players, according to the financial services firm. Despite the significant changes in e-cigarettes and vapor products over the past year, the e-cigarette industry is still in the early stages of innovation, it said. Attractive margins to retailers and manufacturers are helping fund research and development and organic growth. E-cigarette companies are responding to evolving consumer preferences and targeting different segments.
The industry overall is becoming more sophisticated and responsive, according to Wells Fargo.
The Wells Fargo e-cigarette conference brought together experts from the traditional tobacco industry, independent vapor companies and the public health community.