How Chinese E-cigarette companies survival from “cold winter”?
--- A talk Chinese media with IJOY CEO
More than 10 years already since electronic cigarette firstly produced and development in China, over 90% e-cigarettes global produced in Shenzhen, the vaping industry once make many people succeed.
In the year 2013, some companies changed them role to OEM to build their own brand, to 2014 some manufacturers be acquired by Listed Companies, and to 2015 several manufacturers successfully landed NEEQ (National Equities Exchange and Quotations). Thus a booming industry, a suddenly storm came, about a half e-cigarettes companies collapsed or transfered to other business. Disaster is going on till now, how to survival from this “cold winter” becomes all existed e-cigarette companies’ facing problem.
We interviewed the CEO of IJOY, the named brand e-cigs, he gave us his insights.
E-cigarettes without its’ own brand will die out by the market, it’s the combat of brand now. All companies compete each other among product R&D, supply chain, production capacity, plan and marketing.
1.R&D, it’s the only way for any companies comply sustainable development. But how to make products meet the needs of market? Technology is serving for the ultimate commercial value, nor too far ahead ideas will be a success, only combine R&D and market integration is the right direction. Nice ideas ahead market about half a year would be a leading trend, but do not advance 2 or 3 years. Many manufacturers do their investment blindly, make mounts products do not buy by customers, will eventually fail. Ijoy once failed too, lots of ideas which too ahead for customers to accept it.
2.Supply chain & Production capacity, as the brand manufacturer, without a powerful supply chain, would be a great obstacle on not only product quality, but also productivity. Even if make a hot product, can’t meet dealers’ needs. Then 3 months later, hot product die out. Electronic cigarette as fast consume items, need send them out to market rapidly.
3.Plan, to launch a new product must be careful planning, forecast the market sales, the quality control, production capacity allocation, and stable supply chain. And promptly adjustment of plans when market changes, a good plan would to doubled sales growth for good product.
4.Marketing, be full of confident when the industry is down, of course the indispensable invest of R&D. More than 10% of sales to invest on R&D each year, so how to IJOY do the marketing? In the beginning, there no marketing system in IJOY, from the end of 2015, IJOY take his action. Substantial media advertising, and even advertised in Chinese cinema, less than 5% market share IJOY in Chinese vaping group, some say such advertising is just a waste of money. IJOY CEO’s answer was interesting, “Hope the advertises can help more Chinese people have more knowledge of electronic cigarette, vaping is healthy, we’d like to share this point to more people. IJOY, For your joy, we’d love to show the happiness to more people”. And the assistant said, ”IJOY CEO like watching movie, the main ads investment abroad is through exhibitions, magazines, and kinds social nets, and famous reviews”
IJOY newest item is the constant temp taste control MOD –SOLO MINI, and Reaper series tanks. What catch sights is the Reaper Plus tank, has first production 100,000 sets,
would delivery at the end of Dec. 2015. Its’ ICC coil would be a great selling point.
Ijoy ICC(Innovative Ceramic Coil) utilize the innovative microporous ceramic core environmental health materials, more than 1 year time, IJOY R&D team invest more than 40w dollars, experience countless examination, update production technology and formula, ultimately we made it.
Greatly innovation and improvement than other ceramic coils ICC does, it solves high-temperature Oxidation problem of heating coils and the e-juice suction problem. It vapes great with all kinds proportions of PG, VG e-juice, the ICC material is more solid, and we make it high wattage huge vapor.
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