Smoke signals | In focus: Smoking and smoking alternatives
July 10, 2024 by talkingretail.com
Smoke signals | In focus: Smoking and smoking alternatives
The tobacco sector, valued at £14bn annually, is dominated by ready-made cigarettes (70% market share), while roll-your-own tobacco holds 30%. The vaping industry is projected to triple in worth by 2025. UK's Tobacco & Vapes bill aims to make the country smoke-free by 2030, impacting convenience stores heavily reliant on tobacco sales. Manufacturers are adapting, with Philip Morris promoting smoke-free alternatives like IQOS Iluma. Cigar sales are growing, and the illicit trade poses challenges. Retailers are advised to diversify offerings, understand value trends, and stock a variety of products, including eco-friendly options.
11.90% of the adult population are current smokers. There are approximately 7.2 million current smokers in United Kingdom 14.60% of men are current smokers but only 11.20% of women.
SOURCE: GSTHR
