tobacco - Neighbourhood Retailer https://neighbourhoodretailer.com The authoritative voice of the grocery industry in Northern Ireland Tue, 02 May 2023 10:50:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 https://neighbourhoodretailer.com/wp-content/uploads/2020/05/cropped-NR-SIte-Icon-2-32x32.png tobacco - Neighbourhood Retailer https://neighbourhoodretailer.com 32 32 178129390 Top tobacco trends and vaping value: feature https://neighbourhoodretailer.com/top-tobacco-trends-and-vaping-value-feature/ Tue, 02 May 2023 10:50:11 +0000 https://neighbourhoodretailer.com/?p=26642 With consumers currently looking for ways to reduce spending, value products hold the key to successful tobacco sales for retailers. The tobacco category provides a

The post Top tobacco trends and vaping value: feature first appeared on Neighbourhood Retailer.

]]>
With consumers currently looking for ways to reduce spending, value products hold the key to successful tobacco sales for retailers.

The tobacco category provides a significant amount of value for retailers and is currently worth £14bn each year, before tax.

While value tobacco products are no longer necessarily a new trend, it’s likely this demand will continue for some time, particularly with the cost-of-living crisis.

It is therefore essential that retailers ensure they are equipped to cater for this demand, especially as customers buying tobacco can generate much wider sales in store.

The vape market is continually expanding as more consumers seek out alternative nicotine solutions. In the UK alone, the category is now worth around £1.2bn and is expected to reach £1.4bn in the next three years.

With the vape category continually evolving, retailers need to ensure they are staying on top of the current trends in next generation nicotine products.

 

TO DISCOVER THE LATEST TRENDS AND TOP TIPS ON WHAT TO LOOK OUT FOR IN THE TOBACCO AND VAPING MARKETS, SEE THE FULL FEATURE IN THE LATEST ISSUE OF NEIGHBOURHOOD RETAILER – COMING SOON!

The post Top tobacco trends and vaping value: feature first appeared on Neighbourhood Retailer.

]]>
26642
Illegal tobacco sales result in £51.3bn lost revenue https://neighbourhoodretailer.com/illegal-tobacco-sales-result-in-51-3bn-lost-revenue/ Thu, 01 Dec 2022 15:33:17 +0000 https://neighbourhoodretailer.com/?p=25558 Calls have been made for HMRC to deliver additional funding and “promised powers” in a bid to help Trading Standards tackle the illicit tobacco trade.

The post Illegal tobacco sales result in £51.3bn lost revenue first appeared on Neighbourhood Retailer.

]]>
Calls have been made for HMRC to deliver additional funding and “promised powers” in a bid to help Trading Standards tackle the illicit tobacco trade.

Japan Tobacco International (JTI) made the calls after it was revealed illegal tobacco trading has cost £51.3bn in lost revenue since 2000.

JTI presented its findings to MPs at a Parliamentary reception and also revealed evidence of 95 stores in north-west England selling illegal cigarettes, hand rolling tobacco and vapes.

One of the locations identified had been actively selling illegal tobacco since 2015.

Their research found counterfeit versions of a JTI hand rolling tobacco brand being sold for £4, compared to a retail price of £29 – resulting in the Government losing out on approximately £20 in taxes for each pack sold.

Recent JTI research also found that in the last month alone, over a third of smokers have bought tobacco products that were not in the plain packs legally required in the UK.

Fiscal and regulatory affairs manager at JTI, Ian Howell, outlined the extend of the issue.

“While Border Force prevents the smuggling of illicit tobacco into the country and HMRC conducts large-scale operations that can lead to the uncovering of major illegal manufacturing sites, it is Trading Standards that undertake the lion’s share of enforcement action on the UK’s High Streets.

“Unfortunately, despite efforts such as Operation CeCe or the Keep It Out campaign, Trading Standards is overwhelmed by the scale of the problem. They do not have access to easy to apply, hard-hitting financial sanctions that would help tackle the persistent actions of rogue retailers who are currently undeterred.

“Selling illicit tobacco and vaping products puts retailers at risk of prosecution and negatively impacts their store in the community, which is why we created JTI’s ‘Don’t be Complicit’ campaign to raise awareness and give them the resources to combat this illegal trade,” he added.

If retailers know of a store that is selling illicit tobacco or vapes, they must report them to Trading Standards through the Citizen Advice consumer helpline on 0808 223 1133.

The post Illegal tobacco sales result in £51.3bn lost revenue first appeared on Neighbourhood Retailer.

]]>
25558
Imperial unveils £1bn share buyback as it cheers boost from travel rebound https://neighbourhoodretailer.com/imperial-unveils-1bn-share-buyback-as-it-cheers-boost-from-travel-rebound/ Thu, 06 Oct 2022 11:30:52 +0000 https://neighbourhoodretailer.com/?p=25193 Tobacco giant Imperial Brands has revealed plans for a £1 billion share buyback as it hailed the recovery of global travel markets for buoying duty-free

The post Imperial unveils £1bn share buyback as it cheers boost from travel rebound first appeared on Neighbourhood Retailer.

]]>

The group behind brands such as blu, Gauloises cigarettes and Rizla said the boost from travel markets has driven higher sales across southern Europe and in duty-free markets, which is helping partly offset a drop in sales by volume, particularly in northern Europe.

It added that the growth rate of tobacco net revenues had improved over the second half of its financial year due to price changes.

Imperial has also been given a fillip by the weak pound, which is seeing the group benefit from exchange rates on its international earnings, with a gain of about 1% on full-year net revenues and 2% on annual underlying earnings per share.

The pound hit an all-time low against the US dollar last month amid concerns over the Government’s economic plans and while it has clawed back some lost ground, it is still down heavily this year.

On a constant currency basis, Imperial said it remains on track for full-year revenues and underlying earnings to grow by around 1%.

Imperial announced the launch of its share buyback programme, saying its “strengthened balance sheet position means we are now in a position to start to return surplus capital to shareholders”.

It will buy back up to £1 billion of shares until the end of September next year, bringing total capital returns over 2022-23 to more than £2.3 billion.

Stefan Bomhard, chief executive of Imperial Brands, said: “The launch of our new buyback programme is an important milestone in our five-year strategy announced in January 2021.

“Over the past two years, increased investment and a more consumer-centric approach have improved delivery in both our priority combustible markets and next generation product operations.

“Disciplined capital allocation has strengthened our balance sheet to reach our target leverage levels.

“Today’s announcement is underpinned by this improving performance and our confidence in being able to continue generating strong cash flows to support growing shareholder returns in the years to come.”

The group’s update added that it was rolling out its vaping and heated tobacco products – or so-called next generation products – into new markets, having recently launched its heated tobacco brands Pulze and iD in Italy, which is Europe’s largest heated tobacco market.

Shares lifted 4% after the update.

The post Imperial unveils £1bn share buyback as it cheers boost from travel rebound first appeared on Neighbourhood Retailer.

]]>
25193
Imperial Tobacco appoints Oliver Kutz as General Manager UK & Ireland https://neighbourhoodretailer.com/imperial-tobacco-appoints-oliver-kutz-as-general-manager-uk-ireland/ Mon, 03 Oct 2022 09:00:04 +0000 https://neighbourhoodretailer.com/?p=25128 Imperial Tobacco has announced that Oliver Kutz has been appointed to the role of General Manager UK & Ireland. With more than 20 years’ experience

The post Imperial Tobacco appoints Oliver Kutz as General Manager UK & Ireland first appeared on Neighbourhood Retailer.

]]>
Imperial Tobacco has announced that Oliver Kutz has been appointed to the role of General Manager UK & Ireland.

With more than 20 years’ experience in the tobacco industry, Oliver brings a wealth of knowledge and expertise to the role, having previously been appointed as General Manager Central & Eastern Europe at Imperial Brands in 2021. Prior to this, Oliver held the position of President and CEO of ITG Brands, a subsidiary of Imperial Brands.

With a PhD in Marketing from the University of Hamburg, Germany, Oliver frequently lectures at the International MBA Program at the University of Hamburg and has authored various books and articles on business strategy and brand management.

Oliver Kutz said: “I really look forward to moving into this new role at the company and having the opportunity to further build our strong relationships with trade partners.

“One of my main priorities will be to drive forward Imperial’s next generation business to deliver a healthier future, while also developing our combustible business in line with the ever-evolving needs of our adult consumers.”

The post Imperial Tobacco appoints Oliver Kutz as General Manager UK & Ireland first appeared on Neighbourhood Retailer.

]]>
25128
Bestway appoints Jim Brown as Trading Controller for Catering, Fresh and Frozen https://neighbourhoodretailer.com/bestway-appoints-jim-brown-as-trading-controller-for-catering-fresh-and-frozen/ Fri, 02 Sep 2022 08:48:28 +0000 https://neighbourhoodretailer.com/?p=24771 Bestway has announced the appointment of Jim Brown as Trading Controller for Catering, Fresh and Frozen as of 3rd October 2022. Based out of Bestway’s

The post Bestway appoints Jim Brown as Trading Controller for Catering, Fresh and Frozen first appeared on Neighbourhood Retailer.

]]>
Bestway has announced the appointment of Jim Brown as Trading Controller for Catering, Fresh and Frozen as of 3rd October 2022.

Based out of Bestway’s Head Office at Park Royal, Jim will head up a team of six as part of Bestway’s strategic plan to further grow sales across the Catering, Fresh and Frozen categories within Bestway Wholesale.

Jim has over 30 years of industry experience, having previously worked at Booker, Landmark Wholesale and most recently Unitas Wholesale as Senior Trading Controller for Tobacco, Licensed, Impulse and Grocery.

Speaking of his appointment, he said: “I’m excited to be joining Bestway at this point in the company’s journey and at a time when there are many opportunities to drive sales across Catering, Fresh and Frozen Retail sectors.

“Strong Supplier relationships are a bedrock of everything Bestway stands for and I’m looking forward to making a difference within the business as we continue to deliver the right products at the right price to our customers”.

Kenton Burchell, Group Trading Director at Bestway Wholesale, said: “We’re looking forward to welcoming Jim to the team as he brings a wealth of experience to our business.

“Jim has immense knowledge in the wholesale channel spanning many categories, creating the best customer offer and working with suppliers to provide the best value to customers. I am sure Jim will be a perfect fit for us as we expand our Wholesale business across the Catering and Retail arms of the business.”

The post Bestway appoints Jim Brown as Trading Controller for Catering, Fresh and Frozen first appeared on Neighbourhood Retailer.

]]>
24771