NetworkNewsWire
Editorial Coverage: Despite concerns connected with tobacco
use, the global tobacco market reached an estimated $818 billion
in 2020 and is expected to grow at a compound annual growth rate
(CAGR) of 1.8% from 2021
to 2028; the United States is forecast to account for an
estimated $50.9
billion of that in 2021. An innovative smoking alternative is
set to snatch a slice of this billion-dollar industry. Capitalizing
on the opportunity, TAAT(TM) Lifestyle & Wellness Ltd.
(CSE: TAAT) (OTCQB: TOBAF) (Profile) now offers
the 1.3 billion smokers in the world a true smoking experience
without the risks associated with tobacco and nicotine. The
disruptive company is reshaping the smoking experience with the
launch of TAAT(TM), a nicotine-free and tobacco-free cigarette. The
launch of the product has recieved so much positive response both
online and on the ground that the company already plans to expand
beyond its initial retail program in Ohio. TAAT joins well-known
tobacco and nicotine companies Philip Morris
International Inc. (NYSE: PM), Altria
Group Inc. (NYSE: MO) and British
American Tobacco Industries p.l.c. ADR (NYSE: BTI), as
well as newcomer RLX Technology
Inc. (NYSE: RLX), that are seeking to offer
alternatives to traditional cigarettes.
- Despite significant concerns, global tobacco market reaches
more than $800 billlion annually.
- Alternatives don’t replicate the smoking taste or
experience.
- Beyond Tobacco(TM) undergoes 14-step process, resulting in a
substance that tastes, smells and smokes like tobacco.
- TAAT’s breakthrough product mimics both taste and experience
without tobacco or nicotine and at lower cost
Click here to view
the custom infographic of the TAAT editorial.
Finding the Delicate Balance
Today’s consumers are much more attentive to wellness issues,
yet they still cling to pastimes and experiences that are familiar
and comfortable. That’s a delicate balance to find in the world of
smoking, where legitimate concerns are at odds with the sensations
and relaxation that so often comes with the rituals of smoking.
Hand-in-hand with the wellness trend is another closely related
new movement, a movement that holds promise for smokers seeking a
tobacco-free and nicotine-free smoking experience. A growing number
of companies are transforming everyday edible items into
alternative options by substituting ingredients. Plant-based meat
is a prime example. Carefully formulated and crafted, these types
of alternatives mimic original flavor, texture, taste and
experience. Harmful ingredients are eliminated while preserving
what makes the item both familiar and enjoyable.
Moving Beyond Tobacco
That’s precisely what TAAT Lifestyle
& Wellness Ltd. (CSE: TAAT) (OTCQB: TOBAF) conceived with
its TAAT alternative cigarettes. Available in three flavors
(Original, Menthol and Smooth), the tobacco-free, nicotine-free
product is made from an exclusive Beyond Tobacco(TM) base material.
The material undergoes a 14-step process, including a
patent-pending refinement step, which results in a substance that
tastes, smells and smokes just like tobacco.
By creating this experience that goes beyond smoking, TAAT
touches the all-important five sensory elements of smoking a
tobacco cigarette. This includes nearly identical packaging and
smoke volume (visual), crackling sound upon lighting (auditory), a
tobacco-like scent while burning (smell), and “hand-to-mouth” motor
habits (touch). Ashes can even be “flicked” in a similar manner to
tobacco ashes. TAAT’s Beyond Tobacco base material even offers a
tobacco-like taste — all without using an iota of nicotine or
tobacco.
That’s not all. Not only is the TAAT smoking experience
identical on every sensory level, it has a practical appeal too. A
pack of TAAT is priced at $3.99 in Ohio, approximately 43% less
than a pack of Marlboro, which costs about $7.00 per pack.
Eyeing Expansion
In February, TAAT announced that it had contracted with
Texas-based CPG sales agency CROSSMARK to launch its innovative
smoking solution in the retail space. CROSSMARK began those efforts
in late February, launching TAAT cigarettes in Ohio, where more
than three-quarters of its retail accounts, which number more than
7,000 convenience stores, showed interest in carrying the product.
With such an impressive response, TAAT is already eyeing
opportunities to move beyond Ohio’s borders.
Experience has been a key driver in the rollout success. With
more than a decade of experience in sales for a major global
tobacco firm, TAAT’s Ohio account manager has been working
side-by-side with CROSSMARK to provide sales training for CROSSMARK
representatives to ensure that TAAT is ideally positioned among the
many tobacco category offerings available.
“These are exciting times for the company as we enter the final
month of Q1 2021,” said TAAT CEO Setti Coscarella. “Now that our
product line has had the opportunity to be tested by smokers aged
21+ across Ohio with consistently positive reception, we can start
to roll TAAT out more aggressively with the knowledge that we have
a solid product formulation and commercialization playbook.”
Coscarella noted that CROSSMARK’s efforts will run concurrently
with TAAT’s continued in-house sales efforts and promotions for its
online store, which has seen similar success.
Catching Fire Online
TAAT launched its online storefront on Wednesday, Feb. 17, 2021,
only a few days after its Ohio unveiling. As part of that launch,
the company offered a Taste Explorer Bundle, which consists of one
20-stick pack of each of the three TAAT varieties:
Original, Smooth and
Menthol. Available to smokers aged 21 and older,
the bundle provides the chance to sample each offering without
having to purchase a full carton.
Within the first five days of operation of the online store,
TAAT was reporting more than
C$100,000 in sales. Based on this early-stage performance, TAAT
announced that would continue its efforts to attract adult-aged
smokers to the online store. Those efforts, the company noted,
included a campaign of targeted integrated banners in online
content as well as a digital out-of-home campaign on thousands of
Ohio gasoline pump displays.
“To sell more than C$100,000 worth of a relatively new product
in such a short period is absolutely exceptional,” said Coscarella.
“Countless smokers aged 21+ in the United States have been eagerly
awaiting the launch of our online store on Wednesday, which I
believe has contributed significantly to our product sales this
past week. Our iterative rollout of TAAT in the United States has
been very strategically planned to test the initial reactions of
smokers aged 21+ when introduced to the concept of a nicotine-free
and tobacco-free smoking experience, while also gauging reception
of the product after it is sampled for the first time.”
Years of research and product development preceded TAAT’s
rollout of its proprietary TAAT offering. After perfecting the
product, the company then devoted nearly two months gathering
feedback from adult-aged smokers as well as retailers and
wholesalers of tobacco about the new product. “I believe those
insights have proven useful, as they played a role in creating our
strategies for launching the TAAT online store on Wednesday, which
has been a remarkable success so far,” Coscarella said.
Making Significant Moves
With a rising wave of smokers seeking alternatives to tobacco
and nicotine, it’s little wonder that many tobacco companies are
seeing the writing on the wall and making significant moves to
offer smoking options.
Philip
Morris International Inc. (NYSE: PM) has gained
attention as a major cigarette brand that has publicly announced
its commitment to “find
alternatives to cigarettes as quickly as possible.” Last year
the company announced that the U.S. FDA authorized PMI’s IQOS as a
modified risk tobacco product, making the smoke-free innovation the
“first and only
electronic nicotine product to receive such authorization from
the Food and Drug Administration.”
Altria
Group Inc. (NYSE: MO) has stated that
“tobacco harm reduction can only be successful if smokers find less
risky products satisfying.” With that in mind, the company has
invested in delivering a compelling portfolio of noncombustible
products to adult smokers; the portfolio includes three
noncombustible product platforms with the potential to reduce harm:
heated tobacco, oral tobacco and e-vapor. “Our diversified model
allows us to meet adult consumers where they are going and invest
appropriately to support their migration and conversion from
combustible cigarettes,” the company said.
British
American Tobacco Industries p.l.c. ADR (NYSE: BTI) CEO
Jack Bowles unveiled the
company’s evolved strategy in March 2020, a strategy with a
clear corporate purpose to “build A Better Tomorrow(TM) by reducing
the health impact of our business.” The strategy included the
company’s commitment to provide adult consumers with a wide range
of enjoyable and less risky products, to continue to be clear that
combustible cigarettes pose serious health risks and to encourage
those who otherwise continue to smok to switch completely to
scientifically substantiated, reduced-risk alternatives.
A newcomer to the industry, China-based RLX Technology
Inc. (NYSE: RLX) is a leading branded e-vapor company
that entered the market in January with an initial public
offering that shot up from it initial price of $8 per share to
$12 per share before opening at $22.34 as as result of investors
keen interest. The company is dedicated to pursuing valuable
scientific advances in further understanding and minimizing the
health risks associated with e-vapor products.
With an intransigent multibillion-dollar smoking industry ripe
for innovation and change, companies savvy enough to provide
alternatives that meet and exceed smokers’ expectations are likely
to reap significant rewards.
For more information about TAAT Lifestyle & Wellness
Ltd., please visit TAAT Lifestyle
& Wellness Ltd.
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