SHENZHEN, China--(BUSINESS WIRE)--Aug 11, 2023--
Recently, Geekvape, one of the world’s leading vape companies, hosted an online seminar on vaping market trends in Southeast Asia.
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Geekvape Conference - Southeast Asia vaping market trends (Graphic: Business Wire)
The seminar invited Southeast Asia wholesalers to discuss vape trends, categories, and products in this emerging market. The discussion centered around current policies and regulations, category trends, and future product developments.
This is the link: https://www.youtube.com/watch?v=N9h4cVWHNEM&ab_channel=ONESHOTMEDIA
Alvin (VBM Global) from Malaysia and SYJ (SYJ Distribution) from the Philippines participated in the discussion.
Alan, the Sea sales director of GEEKVAPE, mentioned that prior to 2019, GEEKVAPE held a top two position in Southeast Asian markets. However, due to market fluctuations, the current situation varies across different countries. Fortunately, GEEKVAPE has managed to maintain its leading position in the Philippine market and aims to regain its market leadership in Malaysia through strategic partnerships and company initiatives.
Alvin (VBM Global) provided an overview of the Malaysian market, highlighting that disposable products account for approximately 60% of sales in the Malaysian e-cigarette market, closed Pod systems make up around 30%, while open Pod systems only contribute to about 10%.
The Philippine partner SYJ (SYJ Distribution) said that since 2016, disposable electronic cigarettes have gradually become a market trend, and the sales of closed Pod systems have also gradually increased.
Alan said that GEEKVAPE has been investing a lot of resources in the Southeast Asian market, and has met market demand by building a local team and developing localized products.
Regarding the competitive strategy in the Southeast Asian market, Alan stated that GEEKVAPE will closely monitor market changes and develop corresponding products based on demand. Whether it's an open system or a disposable e-cigarette, their products will cater to local needs.
During the interview, the panelists shared insights on tax and consumer trends in Southeast Asia. The tax rates are 40 cents per milliliter in Malaysia and 50 pesos per milliliter in the Philippines. While taxation affects product prices, market demand is constantly changing.
Alan mentioned that GEEKBAR always complies with laws and regulations, is committed to creating a better industry environment, and has made all preparations for compliance. GEEKVAPE will continue to strengthen Southeast Asia partnerships, meet different market needs with localized products and marketing activities, pay attention to market development trends, and provide consumers with high-quality, long-lasting local e-cigarette products.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230811727525/en/
CONTACT: Ruby Liu
ruby.liu@geekvape.com
KEYWORD: CHINA PHILIPPINES ASIA PACIFIC
INDUSTRY KEYWORD: TOBACCO RETAIL
SOURCE: GEEK BAR
Copyright Business Wire 2023.
PUB: 08/11/2023 01:57 PM/DISC: 08/11/2023 01:57 PM
http://www.businesswire.com/news/home/20230811727525/en
