Getting To Grips With The Market
In the 5 years between 2014 and 2019, e-cigarette sales rose by $12.3billion, and estimates suggest the current number of adults who vape could be around 55 million. With the industry growing quicker than ever before, there has never been a better time to launch your e-cigarette brand on the vape market. As a leading CBD and E-liquid manufacturer with clients worldwide, we know better than most the challenges faced by new producers breaking into the market. Let us talk you through the launch process.
Gaining Legal Recognition
So, you’ve worked with a top team of producers, manufacturers and designers – maybe us! - to turn your product ideas into a tangible, ready-to-market product. Nice work. What next?
As you might expect, there’s a good number of regulations you’ll need to be compliant with, along with gaining respective approvals, before you can sell on the market legally. In the UK, these are governed by the MHRA (Medicines & Healthcare products Regulatory Agency).
The TRPR (Tobacco and Related Products Regulations Act) updated by the EU Exit Amendment 2020 is your main point of essential compliance, and producers must submit information about their products to the MHRA to ensure full compliance via the MHRA Submissions Portal and European Common Entry Gate (EU-CEG). Submission is recommended six months before you intend to put your product on the market for sale. Turnaround time from submission to receiving approval can take up to 60 days, and fees do apply.
As producer, it is your responsibility to ensure your products comply with TRPR requirements. Once the MHRA are satisfied your product complies, it is recorded as “declared” and you are free to supply your product for public sale in the UK. Our compliance team can help with this process to make sure that everything is up to standards.
The Perfect Marketing Window
Receiving legal status is half the battle. Once you’re confident you can place your product on store shelves with ease, it could be all too easy to take your foot off the gas. But don’t stop here! This is the perfect opportunity to amp up your marketing campaign to increase your audience and generate your first sales.
Make the most of your social media channels: post partnership content or discount codes for purchases through your new suppliers to direct traffic. Paid promotions across your platforms will also be a great opportunity to capture new potential customers who may not already be aware of your brand. Recent newcomers, JUUL, had excellent success with these techniques back in 2017 – their social media engagement rose from a monthly average of 765 in 2015 to 30,565 in 2017, and they managed to capture more than half of the entire e-cigarette market share by the end of 2017!
Time To Get Started!
Hopefully, our handy run down of launching an E-liquid brand on the market has given you a better understanding of how the process works. While it can seem overwhelming, being prepared and consulting the experts are some sure-fire ways to make your first product launch as smooth and seamless as possible. If you need help with any aspect of CBD production, marketing, or launch – why not drop us a line? Get in touch at info@xyfil.com.
