With tobacco giants Phillip Morris making a complete u turn on its vaping policy, it looks like time is up for big cig businesses.
Last year, Phillip Morris announced that they would be looking to completely stop selling tobacco-based products over the next 12 years. This slow shift shows a significant change in their business strategy, having been completely against vaping over the last decade. For good reason as well, the rise of vaping stands against everything Phillip Morris has been working on for over a century now. Phillip Morris have evolved however and have begun to invest in heat not burn technology. With their paradigm shift most surely leaving them breathless as they try to keep up with the vape wave, it’s a good idea to see what the warning signs may have been for them, and why it could lead to a whole new world for vaping.
Tobacco is unhealthy, and that’s a fact
After years of research, better technology and treatment advancing, it’s no wonder that big tobacco companies have finally had to accept the truth. That smoking is dangerous for the health. Vaping has even been championed by organisations as respected as Cancer Research UK, claiming that e-cigarettes are a brilliant way to stem the flow of tobacco related health issues. With even more research worldwide, tobacco companies have begun to face the truth.
Vaping is a multimillion dollar industry
Vaping has surpassed the 1-billion-pound mark regarding capital, and that’s in the UK alone. It just goes to show that vaping is an industry worth investing in, and whilst cigarette companies are being ever pressed by tighter regulations and prohibition on advertisements whilst vaping has been given free reign to advertise its products. This has led to Phillip Morris and other large companies having to rethink their strategy if they want to keep afloat, and of course vaping seems like the perfect technology to invest in for them.
The creative versatility of the e cigarette knows no bounds
Whether it’s the cool individual packaging, the urban mindset or the welcoming community that has started to develop around the vaping culture, it is easy to see how the inclusiveness perpetuated by vape shops can be infectious. With small vape juice companies making the most out of local artists to decorate their bottles, the industry is thriving. With more of a range, cool accessories and inventive vape device designs, there’s plenty of content, diversity and new things to find in the vape community. Compare that to the bland packaging and oft-sameness of the tobacco world, and it’s a no-brainer who comes out on top.
What the future holds
The future is looking bright for vaping. The only thing which remains to be seen is to what affect large corporations such as Phillip Morris will have on the smaller independent manufacturers. Hopefully, like in music, art and other industries, there will be space for both sides of the coin to have their say and make a name for themselves. Of course, this remains to be seen.