Vapor Industry Rising, Big Box Store Fronts Crashing
– With hundreds of large name retail stores closing their doors at a rapid pace, it is hard to contemplate that traditional retail shopping in years to come will no longer be a part of our traditional ways. The majority of the retail brick and mortar stores that are closing down are big brand names. These stores are unable to sustain/compete and it all seems to stem from mass E-Commerce sites. When you are paying tens of thousands of dollars a month in just the “simple things” like lights and air conditioning you must have a steady flow of traffic daily. These big box brick and Mortar retailers simply cannot maintain the traffic they once did. When times were simpler and the thought of ordering online with next day delivery was at its infantile state, retailer were still booming with no concern of decline. I know we cannot simply state that the internet is the sole reason for the failures this industry sector is facing on an epic proportion, but it is definitely a major key contributor.
There have been many reports as of lately, from some of the biggest names in retail announcing the closing of their doors. Many of there large brick and Mortar locations that we all know and love are shifting all efforts to E-commerce. Not only are the big department stores trimming some fat but smaller retailers are all dropping mass quantities of Brick and Mortar locations as well. Unfortunately, The list goes on and on, we are facing mass store closures like we have never seen before, not even compared to the 2008 recession numbers. At this point in 2017, the country has seen more store closings then the entire year of 2008, according to research done by a CNN brokerage.
But why then would the Vape industry be on the rise you may ask. There is a plethora of reasons and I will go over a few with you! From the inception of this industry there has been an exponential growth of up to almost 7 billion dollars in revenues within just a couple of years, with no indications of slowing down. The Vapor industry is projected to surpass big Tobacco in sales by the year 2023 as some reports have shown. How can retail Brick and Mortar Vapor stores be able to keep their doors open, while so many others close? That is a multi faceted question that would entail a multi faceted answer. The long and short is simple; so long as smoking cigarettes are around there will be a need and outcry for premium trusted E-Liquids from quality brands. The search for the best tasting, highest quality and most consistant E-Liquids will continue to be a huge driving force of patrons into their local brick and mortar vapor store locations. People are becoming more and more knowledgeable and conscientious on what they are consuming, that is causing more hesitation to purchase possible shady products from random online E-Commerce sites.
Do to the infancy stages of the vapor industry, most consumers do not know what they like or what are their favorite brands. This is why there is a HIGH demand for retail Brick and Mortar vapor stores globally, hence the reasoning for company’s, such as Premier Vapor® deciding to offer franchise opportunities to expand quicker in cities across the country because of the high demand for quality products. Reports indicate that only 5% of smokers have even made the switch to vapor products, this is the reasoning why e-commerce is not a viable option, consumers simply do not know what they want and need the one on one customer’s service experience in order to find what works best for them. Shopping for vapor products is not as simple as purchasing a computer part or a simple product that we all know, have used and trust the brand on that particular e-commerce site. Shopping for vapor products is a much more intimate transaction due to the vast options that are available to customize the user’s experience, in order to satisfy the needs of consumers, this intimate transaction must take place face to face for a high success rate and a happy shopper. This would be consistent with the demand for more quality vapor stores nationwide. We can surely suspect there will continue to be a huge economic upswing filling empty retail spaces across the nation with respected vapor store brick and Mortar brands opening at a rapid pace.
In contrast, while all of the massive big box retailers are closing and vacating their storefronts, it is highly probable that you will see top vape store brands filling the voids. Vapor stores can expect the added benefit of great retail locations for reduced lease prices as well. As I stated, I do not believe that traditional retail shopping is going instinct, it is just going through an evolutionary process that we can all expect to watch grow and become even better than before.
In conclusion, while hope seems to be lost for many Brick and Mortar outlets nationwide across all industry sectors, the vapor industry is seemingly keeping our traditional shopping methods and experiences intact. I feel this is important and a core fundamental value as a people. All is not lost when it comes to traditional shopping and I am excited to see more innovative technology driven industries, such as the vapor industry, to fill empty strip malls across the country.