The CEO of Phillip Morris surprised many this week by saying the company wants to get out of the cigarette market. This doesn’t surprise me in the least. As a (former) teacher, I can tell you that cigarette smoking is almost unheard of among teens.
What is popular with teens is vaping. Vapes come in different flavors: bubble gum, Tutti Fruity, Watermelon, Cotton Candy, and other candy flavors are enticing a new generation of customers into smoking at a time when cigarette smoking just isn’t cool anymore, and that doesn’t even address the vapes that contain cannabis. Most of the kids in high school are vaping.
Two years ago, Jim Cramer did a story on how vapes were killing the cigarette industry. If you were surprised by this, you haven’t been paying attention.