The mood is optimistic in vape shops across the UK where new research commissioned by Philip Morris Limited has found that vape-shop owners and managers expect store sales to grow by about 13 percent on average this year.
The findings come from a study of attitudes and expectations of 101 vape-shop owners and managers across the UK conducted by Brand Potential.
Other findings of the research include:
- 83 percent of vape shop owners and managers expect the industry to grow in the coming year and 47 percent expect to increase employment levels over the same period.
- Online sales are expected to grow by about 10 percent.
- 77 percent of vape-shop owners interviewed expect to expand their operations over the next three years, including opening another shop.
- To increase sales, 71 percent are considering investing in staff training to improve product knowledge and 67 percent are considering offering a wider range of alternatives to smoking.
“UK vape shop owners are right to be confident about the future,” said Matt Tisdall, Philip Morris Limited’s head of sales. “As more alternatives to cigarettes become available, vape shops can play a vital role in educating smokers, who would otherwise continue to smoke, about the full range of options available to help them switch.”
When the survey subjects were asked about helping smokers looking to switch to vaping, the research found that:
- 94 percent of vape shop owners and managers believe that support from store staff is most helpful.
- 81 percent believe also that having a wide range of products is most helpful.
