By CSD Staff
Just a little over a year into his job as president of LOGIC Technology Development LLC, Miguel Martin has been about results. The latest is a surely noteworthy.
The latest results from Nielsen’s C-Track Database, indicating that the brand has captured the No. 1 position in the U.S. for unit share in convenience stores nationwide.
LOGIC a developer of premium electronic cigarettes based in Livingston, N.J., now leads the category in total U.S. unit share at 24.3%. In total U.S. dollar share, LOGIC holds the No. 2 rank at 22.9%. The Nielsen data confirms LOGIC’s strong market presence as it approaches the No. 1 position overall within the electronic cigarette industry in the U.S.
“The latest Nielsen Brand Rank report further solidifies our place within this dynamic industry, and we are thrilled to claim the #1 position for total U.S. unit share,” Martin said. “We are particularly pleased that during a period where we experienced significant competitive product launches, LOGIC retained a 62.8% share of the northeast c-store segment, as well as experienced growth in units and dollars sold. We would like to thank our retailers and wholesalers for their tremendous support of our programs and products.”
LOGIC’s strong performance was bolstered by a stronger international presence, including its recent plans for international retail distribution in Canada.
As a guest on “Tobacco Talk” Conference Call Series – Spotlight on E-Cigs/Vapor – with LOGIC’s president, Martin told listeners and Bonnie Herzog, a tobacco analyst at Wells Fargo, that potential opportunity in the c-store industry continues to grow, especially in locations that don’t carry e-cig rechargeables yet.
The delivery of high velocity and premium pricing of its e-cig products continue to be a strong calling card, however.
“Our margin that we offer our retailers is one of the first things we talk about and is one of the first thing we hear from our retailers as to a reason why they feel alignment with our brands—it sells well, it sells at a premium price point and they make a good amount of money on it,” Martin said, during the Wells Fargo conference call.
To solidify its top position in the market, Martin projected that later this year, LOGIC is positioned to roll out its unique digital counter technology, enabling the individual user to tell precisely gauge how many puffs are remaining in the e-cigarette. Coupled with its venture in Canada, LOGIC is pointing itself toward the future.
LOGIC also continues to monitor the $27 billion mega-merger that will unite Reynolds American with smaller competitor Lorillard raised eyebrows Tuesday because the deal includes the selloff of Lorillard’s blu e-cig brand to rival Imperial Tobacco Group. LOGIC remains behind blu in terms of No.2 bestselling U.S. e-cig brand.
Companies such as Logic, which do not sell traditional combustible tobacco products, may have an edge with getting shelf space while competing with blu because convenience stores keep a larger percentage of the sale price with their products than they do with the e-cig brands sold by traditional tobacco companies.
Martin noted as the footprint of combustible tobacco footprint continues to shrink, retailers must consider more floor space for e-cigs.
Before joining LOGIC , Martin worked for Philip Morris USA. Over the course of 18 years, he served in various sales and marketing roles, ultimately serving as senior vice president of field sales, where he ran the largest tobacco sales and distribution organization in the U.S., responsible for Philip Morris USA.