Both Lorillard, Inc, and Reynolds American, two of the largest traditional cigarette makers in the world, are citing electronic cigarettes as a factor in a 6.2% drop in analog sales during the first quarter of this year.
Lorillard, owner of the Blu e-cigarette brand, attributes 1% of that drop directly to the rising popularity of e-cigarettes, which has overtaken the company’s sales of snuff and disolvables. Lorillard sees that trend increasing as they become more widely known.
“There is no doubt in my mind that e-cigs have tapped into a real consumer need [and] that this could become a very big category.” -Murray Kessler, CEO of Lorillard
Reynolds has jumped into the e-cig business as well with its Vuse brand. While still a minor player in the market, it is clear that Reynolds is jockeying for a spot against market leaders like Blu and NJOY.
The top player in the market, Altria, the makers of Marlboro, seem content to sit and wait for the results of FDA rulings, which were expected from the federal agency before the end of this month.
Rising E-Cig Popularity Hurting Traditional Cigarette Demand – WSJ.com.
E-Cig Popularity Hurting Traditional Cigarettes
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