Popular smoke free eCigs may truly be the wave of the future. With cities across the nation implementing smoking bans, many die-hard smokers began to search for alternative methods to get their nicotine fix.
Just this week, Bonnie Herzog, the managing director of beverage, tobacco and consumer research for Wells Fargo Securities LLC, stated that she believes use of electronic cigarettes could overtake consumption of traditional cigarettes within ten years. The bottom line is, both Herzog and many of their industry trade contacts agree that it is more than just a fad.
There are said to currently be 2.5 million eCig users, and it’s been estimated that retailers can earn three times the gross profit on eCigs as compared to traditional cigarettes.
With numbers like that, no wonder the industry is growing. Everyone benefits- from the former tobacco smoker who is no longer subjecting his or her lungs to the dangers of smoke, to the nonsmokers who used to have to breathe secondhand smoke (not to mention the bad smell), and even employers who have more productive employees who aren’t running outside to puff on their cigarette all the time.
There is another huge benefit to eCigs in that it’s a lot cheaper than buying a $6-7 pack of cigarettes every day. A package of five cartridges costs less than $10 and typically lasts a week. Compare that to the $42-$49 a week for pack-a-day smokers and the savings are substantial.
Could the future see a world without big tobacco companies?
It’s certainly possible, and the more that eCigs continue to evolve and offer an experience that is more and more like smoking a traditional cigarette, the more consumers will decide to make the switch.
Major tobacco retailers who haven’t taken stock of this growing trend, should probably get in the game before it’s too late.