Although the vaping industry is relatively new, it has been blowing up mainstream culture. Examining the numbers, vaping is definitely not going away anytime soon. From 2014, the industry was forecasted to reach $3.5 billion by the end of that year.
For the last few years, in the surging height of vaping’s flurry into the market, vape shops have enjoyed what could easily be termed ‘golden years’. The industry itself has come into its own in the last decade with multitudes of retailer benefits over the ‘gas station’ tobacco industry - the most profound of which has probably been the comfort of a space for unchallenged innovation in the industry, with independent vape retailers and distributors running the show as a result.
Relationships impact every part of life and should therefor take high priority. In business, however, the relationship between a company and its customers often gets downgraded to a set of numbers and figures. Companies lose the intimacy and trust needed to weather demanding economic conditions and, in the end, lose valuable customers.
The vaporizer industry is characterized by high degrees of new product introductions, relatively short product life cycles, high levels of competition, and the required speed to market.
In the US alone, more than 20 million people – about 1 in 10 adults – have tried vaping and that number is quickly growing. An industry that is barely 10 years old, is seeing a tidal wave of vape stores appear in every shape and form.