Wells Fargo “Tobacco Talk” Survey

The Wells Fargo “Tobacco Talk” survey reached out to several industry trade contacts to understand vapor category trends during the fourth quarter. The results are below, with key takeaways from this research, including direct quotes by vape retailers and wholesalers representing approximately 20K U.S retail locations that sell e-cigarettes or related products.

Key Takeaways from the “Tobacco Talk” Survey

The following is a list of key takeaways from our survey into trends in vaping and tobacco products.

  • Combustible Volume Being Displaced to Vapor Reaches 4.3%
  • Repeat Vapor Sales Comprise Nearly 60% of Vapor Sales
  • Dual Use of Vapor Products (With Combustible Cigs) More Prevalent Than Full Conversion to vapes
  • Public Perception Mixed With Regards to the Safety of the Vapor Category
  • Overall Response Lackluster to Altria’s MarkTen – 100% of Retailers Carry MarkTen – Sales Driven by Coupons and Free Product
  • Retailers Warming Up to Vapor/Tank/Mods – Nearly All Either Currently Carry VTMs or Plan to Soon – All Respondents Currently Carry E-Cigarettes
  • Retailers Excited About New Vape Products – Vuse and MarkTen Accelerating Category Growth
  • Most Consumers Are “Somewhat Loyal” to Their Preferred Vapor/E-Cig Brand – But Loyalty Is Expected to Increase In Time
  • E-Liquids Taking the Most Incremental Shelf Space (+12.4%), Followed by Vapor/Tank/Box Mods/Small Mods/Squonk Mods/Mech Mods  (+12% y/y), Smokeless (+3%), and Cigars (+2%) as Snus (-1%) and Cigarettes (-5%) Lose Incremental Shelf Space
  • Vape Shops Having Incrementally More Negative Impact on E-Cig Sales According to 62% of Retailers – Consumers Drawn to Vape Shops for A More Robust Assortment
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