Vape sales for key states hit a high of $160 million in August 2019
The summer of 2019 pales in comparison to the turmoil of pretty much every month of 2020 thus far, but was still notable for at least one high-profile public health crisis. August 2019 saw a noted rise in vaping-related illnesses. The vaping crisis prompted the Food and Drug Administration to initiate comprehensive laboratory testing and ongoing investigations of cases in order to regulate the use of vaping products.
Vape sales for key states hit a high of $160 million in August 2019 according to the new State of Legal Cannabis report by Arcview and BDSA. By September, those sales dropped to $126 million. Once it was determined that illegal manufacturers were the root of the problem, branded vape sales started to slowly recover. Fourth-quarter 2019 sales still showed signs of decline, but in December sales picked up by 11%.
States and the vaping industry are still waiting on concrete federal guidelines, and in the meantime, many manufacturers of vaping hardware and associated products are downsizing or disbanding due to the one-two punch of the vape crisis and Covid-19.
Blinc Remains Resilient
There is at least one hopeful story on the vape industry horizon, however, and that is the resilient growth and success of The Blinc Group. The Blinc Group’s business model is built on a tripartite foundation of innovation, quality, and safety, and it seems to be working. Where many companies suffered lethal blows from the vape crisis and Covid-19, The Blinc Group has maintained a focus on expansion and upgrading their facilities to improve safety standards. I recently had the opportunity to speak with Arnaud Dumas du Rauly, CEO of The Blinc Group.
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