From June 12th to 14th, the World Vape Show was held at the Dubai World Trade Centre, attracting exhibitors and professional attendees from around the world. At the event, Shi Jianbo, the product director and deputy general manager of Hangsen e-liquid, exchanged insights with 2FIRSTS and discussed the company's strategies for dealing with changes in market regulations and customer demands in various countries, as well as their future plans.
Shi Jianbo introduced that Hangsen's main products are disposable e-cigarette liquids and bottled e-liquids. In recent years, their main markets have included the United States, Europe, Russia, and Southeast Asia. With the rapid growth of the global e-cigarette market, the company is also facing constantly changing regulatory environments and market demands in different countries and regions.
2023 is a crucial year as Europe, particularly the UK, has implemented new regulatory policies that have had a positive impact on Hangsen's bottled oil sales. These policy changes require Hangsen to continuously adjust its product structure and strategy to meet market demands and regulatory requirements.
Shi Jianbo stated that this year, Hangsen's bottled oil sales have increased by approximately 30%-45%, especially in the European market. Sales in Russia and Southeast Asia are also continuing to grow, indicating strong market demand.
Faced with changes in the market and policies, Hangsen has adjusted its product structure.
"In the past, disposable e-cigarette flavors accounted for 80% of sales, but now the proportion of bottled oil is gradually increasing, reaching 30%-40%, and may increase to 55% in the future," said Shi Jianbo.
He believes that this adjustment allows Everbright to better meet the needs of different markets and maintain stable growth in product performance. The rise of open-end funds has had a significant impact on business, and overall product performance has consistently shown steady growth.
According to Shi Jianbo, the demand for mixed flavors globally is on the rise, surpassing the demand for single or double flavors. Therefore, the company will design new flavors based on factors such as season, heating element, equipment, temperature differences, etc., in order to meet the constantly changing needs of customers.
In the Middle East market, he believes that open system devices and bottled e-liquid have great potential. The Middle East market is not only an important growth region but also radiates into Central Africa and other regions, serving as a strategic entry point into the African market.
Furthermore, Shi Jianbo stated that the taste preferences in the Middle East market have not been fully established, or rather, the taste preferences in all markets have not been fully established. There are significant differences in customer taste preferences. In general, most customers in the Middle East do not like flavors that are too sweet or too cold. Some customers prefer slightly cooler flavors, but not excessively cold. At the same time, customers prefer flavors that are fresh, easy to identify, and have some specific preferences, such as coffee, desserts, and fruit-tobacco blends.
Finally, Shi Jianbo believes that in this exhibition, the enthusiasm for new products and customers is very high, and the exhibition effect far exceeds expectations. From the perspective of e-liquid manufacturers, the prospects for the e-cigarette industry are very promising, and Hangsen will continue to invest in innovation to drive market development.
Shi Jianbo stated that Hangsen plans to expand its business in the Middle East and meet market demand through continuous product innovation and diversification. Hangsen is confident about the future, believing that the e-cigarette industry has vast prospects and the demand for e-liquid will continue to increase.
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