There are many barriers of entry that you have to consider when you open up a tobacco shop. One of the barriers that is more difficult to overcome is the competition for customer loyalty. Many other local tobacco shops may already have existing customers loyal to their established products. Therefore, your competitors have most likely developed a close relationship with those customers who frequently visit their shops. Even if you decide to give a discount to all of your tobacco products, which is what most retail shop owners typically do when they open up a new business, you still may find it difficult to attract a consistent customer base because most customers would not give up the relationship that they have already established with shop owners whom they always go to.
While many new tobacco shop owners are scrambling to find solutions in terms of manipulating the retail prices to market their new businesses, a serious consideration for custom tobacco products may be an innovative way to help you market the image of the new business. Some tobacco suppliers in the market provide premium, customized cigars that come with different sizes, strengths, wrappers, binders, and fillers. Moreover, since it is customized tobacco product, there is a good chance that they are being offered at a wholesale price that undercuts the market price as well. Most importantly, upon negotiation, many tobacco shop owners can have the option to customize the cigar band with the name of their businesses or anything that can help them attract more customers.
With that said, there is always a way to distinguish your tobacco business from your competitors. You just have to offer something different in your products to set yourself apart from others. Therefore, implementing an innovative marketing strategy is often indispensable to your ambition of generating new revenue streamline for your business. Maybe an order of custom tobacco products next time will make a difference in your tobacco business.