A report by Goldman Sachs Managing Director Bonnie Herzog, breaks down how the different nicotine categories were affected by the current pandemic.
On the whole nicotine volume was down by 2.8% from the previous year, for the two weeks ending on March 27th, said the report, and this downward trend is expected to continue. “We expect volumes to turn more negative once we start to lap some of the more pronounced effects of COVID (i.e., pantry-loading) from last year,” said Herzog.
An article on CSP listed the main points of the report. “Here’s a breakdown of what’s happening in tobacco segments in the United States (growth is for the two weeks ending on March 27 compared to the prior year unless otherwise stated):
- Cigarettes: While all channel cigarette dollar sales were up 2.7%, volume sales were down 4.3%. Several cigarette makers have recently increased priced packs. Richmond, Va.-based Altria increased its cigarette prices 14 cents per pack in January while London-based British American Tobacco’s increase for the same amount took effect on April 5.
Diane Caruana – VapingPost – 2021-08-24.