Around two years ago or so the UK vape market was a lucrative market on an upwards trend. Prices were fair, and the consumer demand was growing rapidly across the board. You would see vape shops popping up all over the place, and you could pretty much guarantee that your local town centre would either have a vape shop, or be on the verge of one opening. So what happened?
We are now seeing vape shops struggling to exist in the furious struggle to survive. When the market was lucrative a good vape shop would turnover approximately 20-30K per month, and would offer a decent selection of e liquid, and vape gear coupled with great customer service. Where are the customers going?
Unfortunately, the high street is dying, but this is not the only reason why Vape Shops are struggling... a whole new breed of vape shop / online vape shop has spawned from the underworld. Meet Manchester (Overbridge Road), and meet Southall. Two epicentres of rogue traders, bringing in dirt cheap e-liquid to satisfy the growing underbelly of price driven ... crap.
Okay, so maybe I am being a little harsh, however this kind of trading has driven prices to an all time low, and shredding all kind of profit out of vape products. A price war has ensued leaving vape shop owners high and dry. Only the larger chains are making a dime, as they can buy larger volumes of stock to compete. Poor Mr independent shop owner is going out of business... so where does a potential new vaper go to get their products? Most probably Amazon or Ebay right? Price Price Price. Crap Crap Crap.
This is the main reason why the UK market is now saturated with fake products,awful cheap e-liquid, and decent quality brands are struggling to keep up with the price drops.
Remember there are over 3 million people who vape in the UK, that means there are 7 million people who currently still smoke. Ok, so this is an ever reducing number due to generational change, and the uprising of vaping.