possible hurdles to be faced by those in the room, alluding to a
possible crackdown on flavours – not just in the US – and the
probability of a specific tax on vaping which may not be as far off
in the future as some may think.
“There will be a crackdown on flavours and it will be through
legislation,” he said, adding that the industry will face an increased
burden of proof where smoking cessation is concerned. This, he
said, may involve a product’s status as being modified or posing
reduced risk being subject to increasing scepticism. Mr Stafford
also added that we can expect larger studies, more studies and
specifically, “studies to prove smoking cessation,” which many will
welcome.
In issue 18, we reported on the possible ‘sin tax’ which was
speculated to be on the cards at the Treasury. On the prospect
of a vape tax, Mr Stafford said: “Higher taxes on next generation
nicotine products may be something we need to adjust for in the
coming months. We may see different tax structures, one for
smoking cessation products, another for heat-not-burn.”
On what drives the vape market, Mr Stafford said it’s all down
to what’s convenient for people, in making e-cigarettes the more
convenient choice for smokers who want to quit. “A lot of the
market is driven by convenience, what’s close to your work and
home.”
The analyst provided research statistics, in particular, one
element demonstrating that 60 percent of European consumers
are influenced by how unique and enjoyable a product is.
In comparison, this stands at 66 percent in North America, 65
percent in the Asia Pacific region and 65 percent in Latin America.
He said: “Unique flow and experiences are key to consumer
preferences in every region ranking highest among consumers.”
CBD
Oliver Mammon, co-founder of InHemp / CBD Vape Shot took
part in a panel discussion designed to examine the European
cannabinoid market. He spoke at length about the barriers to
CBD trade, such as ‘hit and miss’ PayPal which its reported
has been blocking CBD companies from its service. However,
Mr Mammon noted there has been a recent shift among card
payment facilitators, “in the last two to three months.”
“Everything has opened up. It’s refreshing, it makes doing
business a little bit easier. On the future of CBD in the UK and
Europe, panelists agreed with Mr Mammon, who said: “I think
we’re in for one hell of a ride.” Also on this panel were Boris
Banas, CSO at CBDepot.s.r.o, Nathan Wogman, co-founder at
InHemp / CBD Vape Shot, Alex Michaels, director at C21 / CBD
Health Store, Sasha Bajilo, CEO Ilesol and Ben Walker, director
at N.V Biotech.
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