Nicotine Sales Down for Late October

Total volume trends ‘modestly decelerated sequentially’ for all companies, says Herzog
Photograph: Shutterstock

NEW YORK —Sales growth across the nicotine industry decelerated in the recent two-week NielsenIQ period, a note from Goldman Sachs Managing Director Bonnie Herzog said.

All-channel dollar sales for total nicotine during the two-week period ending on Oct. 22 were down 3.5% compared to the same two-week period the previous year.

This comes as pressure on nicotine volumes increased with volumes down 8.4% year-over-year, led by the cigarette segment, which was down 9.7%, the New York-based investment management firm said.

On a three-year stack basis, or the sum of the last few years of growth rates, total nicotine dollar sales growth moderately accelerated, up 2.6% for the two-week period.

“In terms of specific company trends, total nicotine volume trends modestly decelerated sequentially for all companies, including for [Altria Group], [British American Tobacco] and [Imperial Brands PLC],” Herzog said. “[Swedish Match AB] volume growth also decelerated (but remained in the high teens range) and Juul’s volume growth remained sharply pressured, down 28.1%.”

The three-year stack basis, though, which helps smooth out volatility, shows total nicotine volumes were pressured but sequentially improved for Altria, BAT and Imperial Brands, while pressure on Juul volumes increased and volume growth for Swedish Match was lighter sequentially, Herzog said.

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.


Exclusive Content


Convenience Stores Speak Out Against New York Tobacco Proposals

Lawmakers reject flavored tobacco ban, accept cigarette tax increase, but negotiations not over yet


Driving EV Owners Into the C-Store

3 ways to encourage customers to charge on their credit cards while charging their cars


Vuse Solo Menthol Can Remain on Market Pending Further Developments

Court stays FDA’s marketing denial order of R.J. Reynolds Vapor Co.’s tobacco product


More from our partners