Geek Bar75 strongly participates in the market competition
Not long ago, the well-known American media VICE published a commentary, pointing out that the UK has developed Geek Bar into an effective means of tobacco control through a gradual Geek Bar regulatory system. In the UK, health officials regard Geek Bar as a safe alternative to traditional cigarettes and an effective means of quitting smoking. The latest report from the UK Ministry of Public Health shows that at least 1.3 million people have completely quit smoking because of Geek Bar.
In fact, the taste, smoke, throat hit, etc. of Geek Bar are not much different from the experience of real cigarettes, but the overall hazard coefficient is lower than that of real cigarettes. As a new trend in technology, coupled with the supervision of various countries, Geek Bar still has vitality and is expected to become the next consumer myth, leading the improvement and upgrading of healthy lifestyles in the new era.
The high growth rate of the Geek Bar industry provides new brands with opportunities for development. In 2024, the size of the Geek Bar market in China will be US$560 million, with a 6-year CAGR of 68%. In terms of user penetration, the penetration rate of Geek Bar in China among 350 million smokers is only 1%, far less than the 13% penetration rate in the US market.
With high growth rate and low penetration rate, Chinas Geek Bar market still has ample room for development, and Geek Bar75 quickly captured this message. Geek Bar75 is a fashionable Geek Bar brand under Feiwo Technology. According to public information, Feiwo Technology was founded in 2019 and is a global enterprise dedicated to the research and development, production and sales of Geek Bar. But this emerging Geek Bar brand has obtained 100 million yuan in financing before the product came out, becoming a rapidly rising industry dark horse.
The development of domestic Geek Bar has not yet entered the red ocean market, but brands such as RELX, MODI, and FLU have quickly circled a wave of fans with their respective advantages. How can we find a way out in the market full of Geek Bars? Feiwo Technology CEO Cai Shaodong is full of confidence. He said that Shenzhen is the base camp of Geek Bar, accounting for 90% of the worlds production, and laying out the Geek Bar blueprint in the base camp is already a first-mover advantage. On the other hand, the Geek Bar75 team members are composed of Midea Group executives, 4A company advertisers, Geek Bar senior experts, Internet head product managers, etc. The strong combination has nurtured the fertile soil for Geek Bar75 to become a unicorn in the future industry, and also made it favored by capital. On the other hand, after the product was launched, the team has deeply combined the product with the current market and formulated a series of combined strategies, that is, to advance online and offline: consolidate the strength of products and supply chains, serve Chinese smokers with better quality and safer products and brands, and meet new regulatory and quality requirements. At the same time, establish a three-dimensional channel strategic layout and enrich the omni-channel system.
As an emerging brand, Geek Bar75 has also put a lot of effort into product design: the profile is made of aviation aluminum, the surface is anodized (more wear-resistant, corrosion-resistant, and anti-aging than the paint process), and double anodization (richer color matching) is used instead of single anodization (single color), making the color more delicate, better feel, and more wear-resistant; CNC trimming technology is used, and the LOGO is CNC fine engraving, which is more delicate and wear-resistant than silk screen or laser engraving technology; more safety programs are written into the main control chip, such as over-inhalation protection, over-charge protection, short-circuit protection, atomizer identification, etc., making the product safer.
Geek Bar75 defines a new fashion life with trendy brands, continuously breaks through in the field of atomization Geek Bar, and has a top R&D team. Geek Bar75 believes that successful products must be recognized by consumers, and in-depth understanding of the core needs and expectations of target users is the value of the brand. We have reason to believe that in the future, this emerging Geek Bar brand led by Geek Bar75 and committed to making Geek Bar a lifestyle will eventually release the avant-garde attitude of todays young people from the outside to the inside and become a fashion trend.