Imperial Brands' Next Generation Products (NGP) segment achieved significant progress in 2024, generating net revenues of £329 million, reflecting a 26.4% growth at constant exchange rates. This growth was realized across all regions and categories, indicating that the company's NGP offerings are gaining popularity among consumers globally, with an increasing market penetration.
I. Highlights of Regional Markets
United States Market: The launch of the Zone modern oral nicotine product in February 2024 has driven growth in the NGP sector. Targeted promotions across 12 metropolitan areas have provided consumers with a more diverse range of options, resulting in a positive early consumer repurchase rate and an expanding sales footprint.
European Market: Countries such as the United Kingdom and Spain have demonstrated strong performance in the NGP market. The launch of the blu bar series in the UK, which includes new 1,000-puff disposable products and rechargeable kits, has fueled growth in vaping products and enhanced the company’s market share in the NGP sector within the region.
Africa, Asia, Australasia, and Central and Eastern Europe (AAACE) Region: The introduction of the 1,000-puff blu bar vaping product in Poland, along with the launch of iSenzia tea-based heated sticks in the Czech Republic and Poland, has driven the growth of the NGP business in this region, resulting in a significant increase in the company’s market share and revenue.
II. Product Innovation and Diversification
A Diverse Product Portfolio: The company offers a wide range of NGP products, including vaping devices, heated tobacco products and sticks, and oral nicotine pouches, catering to the varied needs and preferences of consumers.
例如，blu品牌的vaping产品系列不断创新，推出新的格式和口味，如blu bar kit和blu bar box，以及新的口味选择，以吸引消费者并增强品牌忠诚度。
Zone Oral Nicotine Pouches: Launched in the U.S. market, the Zone brand of oral nicotine pouches offers a variety of flavors and product variations, providing consumers with new options, particularly appealing to those seeking a convenient and discreet way to enjoy nicotine.
iSenzia Tea-Based Heated Sticks: Introduced to the European market, the iSenzia tea-based heated sticks are a tobacco-free heated product that offers consumers a distinctive experience while addressing their desires for both health and flavor.
III. Consumer Acceptance and Market Strategy
Meeting Consumer Needs: Through market research and consumer feedback, the company continually refines product design and functionality to enhance customer satisfaction. For instance, improvements in flavor, ease of use, and harm reduction potential in NGP products have made consumers more inclined to choose the company’s offerings as alternatives to traditional tobacco products.
Scientific Validation and Marketing: The company consistently conducts scientific research to demonstrate the reduced harm potential of NGP products compared to traditional cigarettes. For example, consumer studies conducted in the Czech Republic and the United Kingdom indicate that the company's heated and vaping products can assist adult smokers in reducing their consumption or quitting altogether, providing strong support for product marketing. Additionally, the company actively engages in external discussions surrounding NGPs to enhance public awareness and acceptance of these products.
来源：帝国品牌2024年报
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