What is going on in the world of wholesale vape? What are some things you can do to increase the sales in your vape shop or retail establishment? We sat down with eJuices.co sales representative Russell Mayes to find out the latest in the world of eJuices and CBD.
Q: How have the flavor bans affected you or your customers/sales?
A: The effect of the flavor bans has been one of the swiftest disasters ever implemented on the free enterprise system. My customers have been hit the hardest because all of the money invested in product inventory will go to waste. Sales in many of the larger states have completely disappeared and the consumers who relied on those businesses are now forced to go elsewhere for their vape supplies. These misguided regulations have done nothing but create a potentially huge black market industry in those states with a vape ban or flavor ban.
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Q: Have certain brands been affected more than others based on your latest sales calls, or is it still business as usual?Â
A: There are no areas of the vaping industry or brands that have been able to escape the economic devastation generated by the flavor bans. Most of the vape shops have been fielding a barrage of questions more founded in fear than in fact or truth. Traditional tobacco shops that also sell vape have been reporting an increase in cigarette sales because of the scare tactics being used against the vaping industry. The very reason vaping was developed was to provide an alternative nicotine delivery method to cigarette smokers. Now those same consumers are returning to cigarettes and all of the well-documented harm associated with smoking.
Q: Have some of your customers approached you about CBD, and are they coming from the same states that have flavor bans?
A: Vape Shops are generally not well informed when it comes to the CBD market and the revenue potential that CBD holds. Typically, this is due to a lack of product experience and a lack of reliable information available. To this day, I still hear about the stigma of marijuana. CBD’s association with marijuana makes vape shop owners very skittish about switching from vape to CBD, even when potentially losing their livelihood as a vape shop. In my opinion, many of the vape shops in the affected states for flavor ban enjoyed the fast turnover of profit margin that the vape industry offered, and to restart again with a product they are not familiar with makes them unwilling to take that leap. So many will take their losses and move to other things.
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Q: Regarding CBD, what advice could you give on whether or not a vape shop owner should stock CBD products?
A: The best advice I would give to any vape shop, wanting to their entrepreneurial dream, is to research CBD just like they originally researched vape. Just think back…what made you first want to open a vape shop? How did you learn about the product? What methods worked best for you when presenting your business to the community? How did you reach your customers? Just realize that your customers came to you because of you and the way you took care of them. The same can be true with CBD! All these questions and many more had to be answered when opening a vape shop. You already know the process, but now you are more established, you have a customer base, you have more retail experience; the only difference is your product has changed. Let’s face it, CBD is another great avenue for vape shops. Even your pets can use CBD! That is one customer group that vape could never penetrate.