Interview With Hengxin Tobacco Oil: In The Future, Bottled Tobacco Oil Sales May Account For 55%, And The Demand For Mixed Flavors Is On The Rise
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Interview with Hengxin Tobacco Oil: In the future, bottled tobacco oil sales may account for 55%, and the demand for mixed flavors is on the rise
Shi Jianbo, the Product Director and Deputy Business Director of Hengxin Tobacco Oil, had a discussion with two top executives, introducing the company's response strategies and future plans in the face of market regulation and changes in customer demand in various countries.
From June 12th to 14th, the World Vape Show was held at the Dubai World Trade Center, attracting exhibitors and professional visitors from all over the world. At the exhibition, Shi Jianbo, the Product Director and Deputy Business Director of Hengxin Tobacco Oil, had a discussion with two top executives, introducing the company's response strategies and future plans in the face of market regulation and changes in customer demand in various countries.
Shi Jianbo introduced that Hengxin's main products are disposable electronic cigarette oil and bottled cigarette oil. In recent years, the main markets include the United States, Europe, Russia, and Southeast Asia. With the rapid development of the global e-cigarette market, the company is also facing constantly changing regulatory environments and market demands in different countries and regions.
2023 is an important milestone as Europe, especially the UK, has implemented new regulatory policies, which have had a positive impact on Hengxin's bottled oil sales. These policy changes require Hengxin to continuously adjust its product structure and strategy to meet market demand and regulatory requirements.
Shi Jianbo stated that Hengxin's bottled oil sales have increased by approximately 30% -45% this year, especially in the European market. The sales volume in Russia and Southeast Asia is also continuously increasing, demonstrating strong market demand.
Faced with market and policy changes, Hengxin has adjusted its product structure.
"Previously, disposable e-cigarette flavors accounted for 80% of sales, but now the proportion of bottled oil is gradually increasing, reaching 30% -40%, and may increase to 55% in the future," said Shi Jianbo.
He believes that this adjustment enables Hengxin to better meet the needs of different markets and maintain stable growth in product performance. Its open rise has had a significant impact on the business, and overall product performance has maintained stable growth.
Shi Jianbo observed that the demand for mixed flavors is increasing globally, surpassing the demand for single or dual flavors. Therefore, the company will design new flavors based on factors such as season, heating wire, equipment, and temperature difference to meet the constantly changing needs of customers.
In the Middle East market, he believes that open system equipment and bottled tobacco have great potential. The Middle East market is not only an important growth area, but also radiates to regions such as Central Africa, making it a strategic location to enter the African market.
In addition, Shi Jianbo stated that the flavors in the Middle East market have not yet been finalized, or in other words, none of the flavors in all markets have truly been finalized. There are significant differences in customer taste preferences. Overall, most Middle Eastern customers do not like flavors that are too sweet or too cold. Some customers prefer slightly cooler flavors, but they are not very cold. At the same time, customers hope for a fresh and easily recognizable aroma, with some preferences in areas such as coffee, desserts, and mixed flavors of fruit and tobacco.
Finally, Shi Jianbo believes that in this exhibition, the enthusiasm for new products and customers was very high, and the exhibition effect far exceeded expectations. From the perspective of e-cigarette manufacturers, the prospects for the e-cigarette industry are very promising, and Hengxin will continue to invest in innovation to drive market development.
Shi Jianbo stated that Hengxin plans to expand its business in the Middle East and meet market demand through continuous product innovation and diversification. Hengxin is full of confidence in the future and believes that the electronic cigarette industry has broad prospects, and the demand for e-liquid will continue to increase.
