Cigarettes in Venezuela 2019

Cigarettes in Venezuela 2019

Summary

Cigarettes in Venezuela 2019 is an analytical report by GlobalData that provides extensive and highly detailed current and future market trends in the Venezuelan tobacco market. It covers market size and structure along with per capita and overall consumption. Additionally, it focuses on brand data, retail pricing, prospects, and forecasts for sales and consumption until 2028.

The Venezuelan market has suffered mixed fortunes during the past two decades with an early contraction of 21% from 1990 to 2005. Various explanations have been given for this fall, notably a see-sawing economy, a decline in disposable incomes, and higher prices resulting in consumers turning to black market sales. From 2004 to 2006, sales grew on the back of a reduction in contraband, but tighter regulatory restrictions and a tax hike in 2008 saw sales fall back, with the situation compounded during 2009 and 2010 by weak growth due to the global slowdown. With GDP contracting by 2.8% in 2010, volumes fell by 3%. The introduction of a ban on smoking in public places in 2011 led to a 27.5% contraction in cigarette sales, with higher prices encouraging contraband, followed by a 26.2% reduction in 2012 to 6.9 billion pieces.

Scope

- 41% of cigarettes in Venezuela were illegal in 2017
- There are 45,000-50,000 points-of-sale for cigarettes in Venezuela, including supermarkets, convenience stores, hotels, restaurants, cafés, kiosks, specialists, and duty-free shops
- With a hike in excise tax from 50% to 70% in 2008, retail prices of cigarettes rose by around 15%.
- As of 2016, there were 5.2 million smokers in Venezuela.

Reasons to buy

- Get a detailed understanding of consumption to align your sales and marketing efforts with the latest trends in the market. Identify the areas of growth and opportunities, which will aid effective marketing planning.
- The differing growth rates in regional product sales drive fundamental shifts in the market. This report provides detailed, authoritative data on these changes - prime intelligence for marketers.
- Understand the market dynamics and essential data to benchmark your position and to identify where to compete in the future.