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Rui Finance: The electronic cigarette industry ushered in a shuffle, and the big brand still has a front -line life

Rui Finance: The electronic cigarette industry ushered in a shuffle, and the big brand still has a front -line life

2022-11-04

Rui Finance News (text/Wang Lei) As the e -cigarette industry implemented the "Electronic Cigarette Mandatory National Standard" on October 1, the fruit flavor electronic cigarette was completely removed, and the website of the National Tobacco Monopoly Bureau also , Electronic cigarettes carry limited editions such as cigarettein and other places, and the new regulations for delivery are publicly solicited to the society, and the new regulations for sending e -cigarettes are planned to be sent to the public. The era of barbaric growth of electronic tobacco is over.

 

 

 

 

Sales decline significantly

 

From October 1st, there were more than a dozen products, and it became only two or three types of tobacco flavors that conform to the new national standard to choose from. Previously, all the fruit -flavored electronic smoke bombs were completely removed from the shelves. Insiders believe that the prohibition of new regulations for seasoning electronic cigarettes will cause the retail volume of electronic cigarettes to fall by 60%-90%, and shipments will decrease by more than 50%-70%.

 

After the release of the electronic cigarette national standard, due to the no longer supplies of fruit -flavored electronic cigarettes, some customers lost, and the terminal was not clear. Affected by a series of new electronic cigarettes before, it was thought that a large number of customers who would have a large number of stocks had a large number of shopkeepers. According to a large number of shopkeeper reactions, there were no large number of customers. Some shopkeepers complained that sales declined by more than 70 % month -on -month.

 

This is basically consistent with the estimates of the industry, indicating that the electronic cigarette industry has entered the cold winter period.

 

 

 

 

Compared with the decline in sales, the price is rising

 

In the early morning of November 1st, electronic cigarette retailers updated the recommended retail price. Smooth tools and smoke bombs of brands and cigarette bombs such as citizens, grapefruit, magic flute, Ono, carved rice, firearm and other brands have risen to varying degrees. Among them, the four cigarettes wholesale prices ranging from 32.83%to 95.3%, it is recommended that the retail price increase ranges from 33.52%to 97.49%. Earlier, the smoke bomb priced at 99 yuan, some retailers rose to 109 yuan and 129 yuan.

 

It is learned from a certain electronic cigarette brand that due to the changes in tax policies, the factory price of the product has been adjusted. Major retailers may adjust the retail price of the product on this basis. However, there is no recommended retail price. Retailers formulate themselves according to their own operations.

 

 

 

 

The group has basically formed

 

As of the end of 2021, there were more than 1,500 electronic cigarette manufacturing and brand -related companies in my country. Among them, more than 1,200 manufacturers, more than 200 electronic cigarette brands, and about 120 tobacco oil companies.

 

The penetration rate of electronic cigarette users in Chinese smokers has risen rapidly since 2020, and it is expected to reach about 2.2%at the end of 2021. According to this calculation, at the end of 2021, the scale of the consumer group of electronic cigarettes in my country was about 7.7 million.

 

As the electronic cigarette control control is becoming more and more stricter, the consumer groups of electronic cigarettes will be controlled, but it still remains at about 7 million people. The consumer group of electronic cigarettes has basically formed.

 

 

 

 

Regulations are conducive to the industry's healthy development

 

In the middle and long term, the tax landing and the interests of GJ are bound together, and the growth of the electronic cigarette industry has further enhanced, and it is also conducive to the healthy development of electronic cigarettes as cigarette substitute products. At the same time, electronic cigarette export tax exemption policies remain unchanged, which is conducive to domestic enterprises to expand overseas markets. Clarifying taxes will be a favorable perspective of the long -term development of the industry, and the industry concentration will be effectively improved.

 

In the past, we always said that the entry threshold of the electronic cigarette industry was too low and profitable, and everyone could come in. This is also an important reason for the disorderly development of the electronic cigarette industry in previous years. At the same time as the price increase, the electronic cigarette market may be reshuffled, and small and medium manufacturers and brands may gradually clear.

 

From this perspective, the opening of consumption taxes actually pushed the industry threshold for electronic cigarettes. With the advantages of technology, manufacturing, product advantages, and brand awareness, companies with strong profitability will further highlight the competitive advantage.

 

 

 

 

 

Shuffle and going out

 

 

The end of the era of profit and barbaric development, the era of reshuffle in the industry has arrived. For head brands, price increases are conducive to companies to further consolidate their advantage. Large brands have raised their prices slightly, and users can still accept it, but the price increases, the worse the price increases. Industry shuffle has officially started.

 

Going out is the best way. The "2021 Electronic Tobacco Industry Blue Book" released by the Electronic Cigarette Industry Committee of the China Electronic Chamber of Commerce shows that the overseas e -cigarette retail market in 2021 is 25 times that of the Chinese market. In 2021, the domestic market size (retail) of electronic cigarettes is expected to be 19.7 billion yuan, an increase of 36%year -on -year; the global market size (retail) is expected to be 80 billion US dollars, an increase of 120%year -on -year, and the three -year compound growth rate is 35%. In 2021, the total export of electronic cigarettes in China reached 138.3 billion yuan, an increase of 180%year -on -year; the country (or region) with the largest exports was the United States, accounting for more than half, followed by the European Union and Russia. In terms of industrial chain, there are more than 1,500 Chinese electronic cigarette manufacturing and brand companies, including 200 brand companies, with a total of 743 companies above designated size (annual sales of more than 20 million yuan). In addition, there are nearly 100,000 electronic cigarette supply chains and surrounding service companies. These companies created nearly 1.5 million directly employment, and the number of indirect employment was 4 million, with a total of nearly 5.5 million.

 

The market for electronic cigarettes is still very large. Domestic electronic cigarette consumers have basically formed, and the sales of overseas markets are growing. In addition, the industry's reshuffle may be a better opportunity for the brand's larger electronic cigarette brands.


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