As the pandemic continues to challenge the market, Argus will discuss their forecast for 2022 on Tuesday, December 14th at 2 pm Eastern Time.
Market research shows that 80% of participants choose Bidi Vapor's premium e-cigarette products instead of their current nicotine options
Grant, Florida, December 14, 2021/PRNewswire/ - Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands", "Company" or "we") is Bidi Products manufactured by Vapor LLC ("Bidi Vapor") include the BIDI® Stick Disposable Electronic Nicotine Delivery System ("ENDS"), which is designed for use by adults 21 years of age and older. Bidi Vapor announced today that in a recent survey of e-cigarette users and smokers in the United Kingdom ("United Kingdom"), 80% of adult participants prefer BIDI® Stick to their current choice.
Voccii LLC, a market research company based in Charlotte, North Carolina, conducted a survey in the UK to better understand the performance of BIDI® Stick abroad. The survey concluded that "any taste should perform well in the market...", and more than 80% of current e-cigarette users in the product survey prefer BIDI® Stick to their current e-cigarette devices. This conclusion spans device types, as BIDI® Stick is compared with open systems, cartridges/cigarettes, and other disposable e-cigarettes.
"Although the US e-cigarette market data shows that consumers prefer BIDI® Stick, we are ecstatic to see that the UK market research results confirm that 2% nicotine BIDI® Stick is also favored by adult e-cigarette users and smokers in the UK." Said Niraj "Raj" Patel, President and CEO of Bidi Vapor and Kaival Brands.
“From a market perspective, the UK has unique regulatory standards that can help directly compare competing devices. For example, the nicotine content of all e-cigarettes must not exceed 2%, and the volume of cigarette cans must not exceed 2 ml,” Mr. Patel said.
Mr. Patel said: “Knowing that you are competing on a level playing field is comforting.” “Standardizing certain product attributes means that survey participants prefer the uniqueness of your product, whether it’s formulation, quality or A way to provide nicotine. It’s great to see the real potential of BIDI® Stick to help British smokers who are unwilling or unable to quit in order to find alternatives to cigarettes.
The survey involved 101 adult users of e-cigarette products and combustible cigarettes in the UK, and tested the preference between four BIDI® Stick flavors (containing 2% nicotine) and the products commonly used by the subjects. Product testing will take place from October 2, 2021 to October 18, 2021, involving a series of people who have reached the legal smoking age. Of the 101 participants, 51 participants tested "menthol" samples and 50 participants tested "non-menthol" samples. Bidi Vapor and Kavial Brands announced in October 2021 that they will increase their focus on specific international markets where they have complete market and product approvals and can distribute the entire BIDI® Stick product line (including non-tobacco flavors) ).
Although flavored e-cigarettes face major challenges in the US market, these products are still legal in most parts of the world. In the past 12 months, Bidi Vapor has obtained marketing and distribution licenses in 11 global markets including the United Kingdom and Russia. Officials said that, given the favorable developments in the UK market, Bidi Vapor and Kaival Brands are now focusing a lot of time and strategic efforts on targeting the UK market. Kaival Brands believes that it has the budget to focus on marketing, staffing and executing successful marketing strategies in the UK. While building the UK infrastructure, Kaival Brands is actively discussing formal international distribution agreements with some current US customers, who also have Global distribution capabilities.
Mr. Patel, President and CEO of Kaival Brand, owns and controls Bidi Vapor. Therefore, Bidi Vapor and Kaival Brand are considered to be jointly controlled, and Bidi Vapor is considered to be a related party.
About BIDI VAPOR Headquartered in Melbourne, Florida, Bidi Vapor is committed to responsible marketing, support of age verification standards, and sustainability through its BIDI® Cares recycling program. Bidi Vapor's first device, BIDI® Stick, is a premium product that uses medical-grade components, UL-certified batteries, and technology designed to provide a consistent e-cigarette experience for adult smokers 21 and older. Bidi Vapor also insists on strictly complying with all federal, state and local guidelines and regulations. At Bidi Vapor, innovation is the key to our mission. BIDI® Stick promotes environmental sustainability while providing a unique e-cigarette experience for adult smokers.
For more information, please visit www.bidivapor.com
About KAIVAL BRANDS Kaival Brands, located in Grant, Florida, is a company that focuses on the development and incubation of innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop, acquire, own or exclusively distribute these innovative products internally, and to develop each product into a leading market brand with outstanding quality and recognized innovation. Kaival Brands is the exclusive global distributor of all products produced by Bidi Vapor.
For more information about Kaival Brands Innovations Group, Inc., please visit www.ir.kaivalbrands.com.
This press release includes statements that constitute "forward-looking statements" within the meaning of the federal securities laws. These statements are statements other than historical facts, often used such as "anticipates", "believes", "continues", "probable", "estimates" , "Expect", "forecast", "intend", "may", "plan", "location", "should", "strategy", "target", "will" and similar words. All forward-looking statements are issued only on the date of this press release. Although we believe that the plans, intentions and expectations reflected or suggested in the forward-looking statements are reasonable, we cannot guarantee that these plans, intentions or expectations will be realized. Therefore, actual results and results may differ materially from those expressed, implied or predicted in such statements. Our business may be affected by many unpredictable factors, involve uncertainties that may have a significant impact on the results, and are usually beyond our control. Factors that may cause or contribute to this difference include, but are not limited to, the time and results of Bidi Vapor’s appeal to the FDA PMTA decision; the scope of future FDA regulations in the ENDS industry; FDA’s regulatory approach to synthetic nicotine and its impact on our business ; The company has expanded the successful implementation of Bidi® stock distribution in the international market, the duration and scope of the COVID-19 pandemic, and the impact on the demand for the products we distribute; the actions taken by governments, businesses and individuals in response to the pandemic, Including the mandatory closure of businesses and restrictions on on-site business interactions; the impact of pandemics and actions taken in response to the pandemic on global and regional economies and economic activities; the speed of recovery after the COVID-19 pandemic subsides; and the overall size of major global markets Economic uncertainty and deteriorating global economic conditions or low economic growth; the effects of measures we can take to reduce operating costs; we cannot generate and maintain profitable sales growth; may prevent us from implementing or realizing the expected benefits, Circumstances or developments that may increase the cost of our current and planned business plans; changes in government regulations or laws that affect our business; major changes in our relationship with distributors or sub-distributors; and we are trading in U.S. securities Those factors detailed in the public documents submitted by the committee. All forward-looking statements contained in this press release are entirely restricted by such cautionary statements. Except as required by the Federal Securities Law and the Securities and Exchange Commission's rules and regulations, we have no intention or obligation to publicly update any forward-looking statements, whether due to new information, future events, or other reasons.
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