2015 vape shop index | sfata, ecigintelligence, e-cigarette forum, roebling research
TRANSCRIPT
2
2015VapeShopIndexDescription
Thisuniqueandexclusivereportanalysesdataon540vapeshopsacross42U.S.StatescollatedthroughajointventurecalledProjectVapeManifest.Thereportcontainsessentialinformationonvapestorerevenueattributedtoe-liquid,tanksandatomisers,andmods,includingregionalbreakdownsofthetopsellingbrands,flavours,nicotinestrengthsandbottlesizes.Italsocontainsvaluableinformationonownership/franchisingmodels,typicalin-storeretailenvironmentaswellaswhatvapestoreownersandmanagersthinkthefutureholdsfortheindustryintheUnitedStates.ECigIntelligencehaspartneredwithRoeblingResearch,E-CigaretteForum,andtheSmoke-FreeAlternativesTradeAssociation(SFATA)tocreateProjectVapeManifestanddeliverthefirst-ever2015VapeShopIndex.ThepartnersintendtorunregularupdatestothesurveytobuildalongitudinalstudyoftheongoingeconomicprogressionofthislittleanalysedbutabsolutelyessentialpartoftheAmericane-cigaretteandvapormarket.
www.ECigIntelligence.com
3
2015VapeShopIndex
Executivesummary(extract)
• The2015ProjectVapeManifestSurveypolledvapeshopsacrosstheU.S.togiveuniquefinancial,product,andbrand-leveldataonthisincreasinglyimportantpartofthee-cigarettesector.
• Averagemonthlyrevenuewas$25,600(suggestingaverageannualrevenueofabout$300,000).
• Salesofe-liquidgeneratedapproximately60%ofvapeshoprevenue;halfofalle-liquidsoldisat3mg/mlor6mg/mlconcentration.
• Thee-liquidsectorremainsveryfragmentedandnoonecompanydominatesintermsofbrandpenetration;thehardwaresectorismuchmoreconsolidated.Respondentsaskedtoidentifythetop-sellingproductsintheirstoresnamedatotalof532brandsofe-liquid,againstjust52brandsoftanksandatomisers,and42brandsofmods.
(continuesbelow)
www.ECigIntelligence.com
4
2015VapeShopIndex
Samplegraphic
www.ECigIntelligence.com
2%3%3%3%3%3%3%3%3%4%4%5%5%5%5%5%6%6%7%
20%
CHARLIENOBLETELEOS
TIMEBOMBVAPERGATE
CHARLIE'SCHALKHOLDFAST
NJOYACCYCLOPS
ONEHITWONDERSUICIDEBUNNY
RIPEVAPESRUTHLESS
ANMLHALO
BOOSTEDSPACEJAMLOSTART
COSMICFOGKILO
CUTTWOOD
%ofVapeShopsUtilizingTop20E-liquidBrandsinTheirTop5
5
2015VapeShopIndex
Contents
• Surveybackgroundandobjectives[4]
• OverviewofvapeshopsintheU.S.[6]
o Fragmentedownership
§ Singlev.multi-storelocations
§ Vapeshoplocationsbyoperatorclass
o Geographicalbreakdown
§ Northeast,Midwest,South,Westregions
o Lengthoftimeinbusiness
o Styleofbusiness
§ In-storeretailenvironment
§ Distributionchannels
www.ECigIntelligence.com
6
2015VapeShopIndex
• Revenueanalysis[12]
o Revenueattribution
§ E-liquid
§ Tanksandatomisers
§ Modsandstarterkits
• Productcategoryanalysis:e-liquid[16]
o Volume
o Nicotinestrength
o Flavours
§ Northeast,Midwest,South,Westregions
§ U.S.nationalaverages
• Brandanalysis[20]
o E-liquid:532brands
§ Leadingbrandsbyappearanceinvapeshops’top5sellers
§ Sharedistributionoftope-liquidbrands
§ Utilizationoftopbrandswithinvapeshops’productmix
www.ECigIntelligence.com
7
2015VapeShopIndex
o Tanksandatomisers:52brands
§ Leadingbrandsbyappearanceinvapeshops’top5sellers
§ Sharedistributionoftoptankandatomiserbrands
§ Utilizationoftopbrandswithinvapeshops’productmix
o Modsandstarterkits:42brands
§ Leadingbrandsbyappearanceinvapeshops’top5sellers
§ Sharedistributionoftopmodandstarterkitbrands
§ Utilizationoftopbrandswithinvapeshops’productmix
• Retailersentimentandindustryoutlook[28]
• Comparisonwithotherresearch[31]
www.ECigIntelligence.com
8
2015VapeShopIndex
AuthorsRyanMcCrossan,headofU.S.marketanalysis,ECigIntelligence.Ryanisaresearchanalystwithexperienceininvestmentmanagementandinvestmentbanking.PreviouslyhefoundedaNewYork-basedelectroniccigarettecompany,LIV,andworkedinequityresearch,portfoliomanagement,andriskatUBS,MerrillLynch,andChapinHillAdvisors.RyanholdsaMasterofScienceinFinancefromtheCharlesF.DolanSchoolofBusinessandaBachelorofScienceinFinancefromFairfieldUniversityinConnecticut.Pleasefeelfreetocontacthimabouttheresearchanddatacontainedwithinthisreport,requestsforadditionalanalyticalservicesandsupport,and/[email protected]+16464800261StevenHong,principal,RoeblingResearch.RoeblingResearchisamarketresearchandstrategyconsultancydedicatedtothevapeindustry.BasedinNewYorkCity,thecompanycountsamongitsclientscategory-leadingvaporcompanies,retailers,andprofessionalservicesfirms.Inadditiontosyndicatedresearch,Roeblingalsoprovidesbespokeconsumerresearchandindustryhighlights.PrincipalandfounderSteveHongisanindustryspecialistandfrequentlectureronthevapemarket.Photo:SteveCookeCopyright© 2015ProjectVapeManifest
www.ECigIntelligence.com