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E-Cigarette Trends to Expect after the FDA’s Recent Tobacco Ruling

Every vape shop owner probably knows by now that the U.S. Food and Drug Administration finalized a ruling bringing e-cigarettes under its supervision.

With vaping pens and e-cigarettes now categorized as tobacco, manufacturers will have to submit  products for an extensive pre-approval process. Where the FDA estimates this cost to be under $500,000 per product, manufacturers put the price at more like $2 million. Just six years old, the vaping industry is reeling from this decision. Vape shop owners should know how this ruling impacts e-cigarette trends.

Behind the E-Cigarette Legislation

Once touted as a healthier alternative to traditional cigarettes, vape pens and e-cigarettes have gained in popularity since first coming onto the market in 2007. Now a $1.5 billion-dollar industry, its appeal to teenage smokers has ironically brought about this blow

In 2011, just 1.5% of high school students smoked e-cigarettes. By 2015, that number had risen to 16%. According to Centers for Disease and Prevention, today approximately 3 million high school and middle school students use the devices. The CDC and other powerful lobby groups like the American Lung Association aim to prevent young adults from picking up any smoking habit at all. They pushed the FDA to inspect these devices for premarket approval. This new regulation will cost the companies millions of dollars, pushing perhaps some smaller shops and manufacturers out of business.

E-Cigarettes Prices to Rise

With much higher costs, E-cigarettes, liquid smoke and accessories will get more expensive, particularly those made by boutique manufacturers. Tobacco giant RJ Reynolds (which owns VUSE) will be better able to absorb the approval costs, but smaller manufacturers will struggle. Still, vape shop owners carry both lines: both the esoteric, finely crafted brands for the real connoisseurs and the less expensive for the masses. Shop owners can experiment with which products keep them profits at a maximum.

E-Cigarette Variety to Decline as Some Manufacturers Close

If high quality, boutique manufacturers can’t cut costs in other areas, the FDA’s approval costs could close them down, leaving shop owners with fewer varieties to offer. Consider how Anheuser Busch and Miller make lower quality beer at a low for a large audience. Craft brewers, on the other hand, create high quality, higher-priced drafts for the true beer connoisseurs. The vaping industry has a similar division. This is how the very best products often become discontinued.

Currently, Altria and R.J. Reynolds are the only companies with the best chances of complying with the regulation because they have the budget to fund the testing. These two huge entities just pull budget from the traditional cigarettes. According to the president of American Vaping Association Gregory Conly, the regulation will cut into costs, but not threaten their existence.

Recent Research and Demand Supporting a Healthy E-Cigarette Future

 Despite the challenges outlined above, exciting recent studies have shown that vaping will continue to grow. Current research reveals some exciting health benefits e-cigarettes offer over traditional cigarettes.

First, a study from US-based non-profit organization Research Foundation predicts that after 20 years, vaping might have the chance to eliminate traditional cigarettes all together. Currently, in India, 10% of smokers have already switched to vaping. Doctors there predict that the smoke-related illnesses and diseases will decrease significantly over the next 5 years.

Georgetown Lombardi Comprehensive Cancer Center’s extensive study revealed out that using e-cigarettes will lead to a drop of 21% smoking related problems and death a 20% life gain.

While some toxic chemicals do exist in these new products, a Harvard Medical School study found they’re present in far lower levels in e-cigarettes than in traditional ones. Further, study authors predict that the devices will improve in quality and, most importantly, safety over the next ten years. As they do, consumers will be more and more willing to drop their tobacco cigarettes for healthier vaping options.

 

A+ Rated First Financial Helps E-Cigarette Shops STAY in Business

New and established vape shops and e-cigarette vendors trust First Financial to get them the high-risk merchant accounts that enable customers to pay easily. Apply online for e-cig merchant accounts and start accepting credit cards in days. You’ll know within 48 hours whether you’ve been approved.

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