Snowplus Experiences Global Growth Despite COVID
Snowplus, a leading global vape company, and its global business have flourished despite challenges posed by the COVID pandemic that has impacted business around the world. Their strategy of localization implemented in late 2019 has proven to be the key to their continual growth in the face of the pandemic. Since the pandemic started they have still seen a growth increase of around 350% in their global business.
Business impacts of the pandemic have been far reaching, including but not limited to logistics, manufacturing, and local economies being shut down. For the vape industry, it has been no different. However, localized strategies have enabled responsive and agile decision making, and have also minimized any negative impact from the current unforeseen global crisis.
In multiple new markets Snowplus has expanded to, they’ve been able to partner with leading companies that know their local markets well. To win the confidence of top level partners, a combination of quality products, reliable support, and long term investment have proven to be the key.
“Our focus on producing consistently high quality, rigorously tested products have helped us win major partnerships in markets we expand to,” explained Derek Li, Snowplus Cofounder and Head of Overseas Markets. “It’s always a satisfying moment when potential partners test our products, have a ‘wow’ moment, and come back to us ready to work something out.”
In Canada, Snowplus realized quickly that finding a respected local e-liquid partner would bring down costs associated with e-liquid production and international shipping. But even more importantly, the Canadian palate was quite different from the flavors that make Snowplus pods a hit in Asia. Instead of hoping to have the market warm up to different taste profiles, tailoring flavors that fit local vapers has netted immediate market growth.
In fact, Canada is not the only market where Snowplus implements this two-pronged strategy of establishing local partners and executing local strategies. As a result, not only is Snowplus one of the fastest growing vape brands in the world according to device shipments since they started in 2019, they’ve achieved record growth during the pandemic.
“From our 28-point testing, the most thorough in the industry, to our high-tech laboratories in Shenzhen, our dogged dedication to product quality has opened doors for us in new markets and won over market leading partners wherever we go,” said Li. “In turn, it's been relatively easy for us to work with our local partners and trust their strategies, which has really carried us through this past year of difficulty. In the end, to still achieve record growth has been something we’re extremely proud of and grateful for. We’re not done. As the world slowly emerges from the pandemic, we’re open to any partners that are ready to work with us. Just reach out.”
Founded in April 2019, Snowplus is dedicated to replacing combustible tobacco through consistent quality and a commitment to innovating better vaping experiences. Snowplus products have passed a number of third-party safety certifications and are made with components that meet the highest medical safety standards. To date, Snowplus has received over $150 million in financing which is among the largest funding for any startup in the e-cigarette industry.
To learn more about Snowplus, please go to snowplustech.com.