April 8, 2020
Retailers are now able to discover how their business could be affected by the upcoming menthol ban thanks to a new online calculator created by Philip Morris.
The tool utilises EPoS data from 2,600 stores around the UK and analysis of local spending on menthol cigarettes and the basket spend of these smokers. Store owners can enter their postcode at menthol-ban-retail.co.uk and the calculator provides details of the financial impact businesses can expect over the course of a week, month or year.
All menthol cigarettes are banned from sale in the UK from 20 May.
Kate O’Dowd, Philip Morris’s head of field force said: “With COVID-19, retailers are already under considerable pressure and face great uncertainty in the months ahead. The upcoming ban on menthol cigarettes will add to this pressure. Our calculator is a valuable tool to help retailers to take the necessary steps to protect their business during this critical time.”
The calculator additionally allows businesses to estimate the potential sales they could make from the Philip Morris-made IQOS system, by stocking the HEET sticks the devices require. Research by the company has shown that 51% of smokers would consider using the IQOS system and 80% smokers who use it for seven days transition away from cigarettes completely.
O’Dowd said: “By stocking a range of alternative products, stores have a great opportunity to generate sales when they are no longer able to sell menthol cigarettes,” said O’Dowd. “This is clearly reflected in the results generated by our new financial impact calculator.”
Earlier this week Vape Business exclusively revealed the imminent arrival of a new IQOS system, IQOS VEEV which will replace IQOS MESH in the UK.