The state of vape is going to change significantly in 2020, and your vape shop or retail establishment should be ready to tackle those changes. The eJuices.co team sat down with eJuices.co account executive Kevin Wong, who gives insight on what is on the horizon for wholesale vape in 2020.
With uncertainty looming, this is one of the most difficult questions to answer in the industry today. I do see diversification in both retail and wholesale to combat increased taxes and changes to the industry. No longer can one rely on one product segment. CBD is an easy transition that many shops are taking. Like any product, education is key when introducing CBD. Retail establishments will find that CBD (or any new product segment) will bring in a new customer base and their marketing strategy will need to adjust.
I’m optimistic that there will be a solution to keep all flavor profiles on the market. However, as we have been seeing in certain states and counties there have been limits placed on what is offered. Tobacco flavors will be more prevalent in 2020. We may also see limits to nicotine strengths.
I do. This is a trend that has been growing year after year and has exploded in 2019 in both sales and in new brands coming to market. Vape shops have been able to take advantage of this new market by transitioning their current client base. The more successful vape shops have rebranded themselves in order to tackle the new market segment. With CBD, you open yourself up to the health and wellness market. This market is highly diversified. The market comprises of vape products, topicals (beauty supplies), solutions for discomfort, ingestible CBD, and the billion-dollar pet industry.
In addition, more and more end-customers are learning about CBD. A vape shop can take advantage of this educated market by providing high-quality products with the personal service that these customers are looking for. Only work with vendors that supply well-known brands and lab reports.
No one knows your market better than you. Nationwide trends can hurt or help you. You need to be sure shelves are stocked so customers don’t go elsewhere, but properly forecasting your inventory has never been more important. Consider diversifying products if you haven’t done so already. Your account manager with eJuices.co is a good place to start for advice. Your account manager regularly speaks with hundreds of shops and can provide trends in your area.
That’s all for our Ask The Expert segment on eJuices.co! If you have any questions or concerns, you can contact your eJuices.co account manager or sales representative.
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