Cigarette Sales Tumble After Initial Pandemic Panic Buying
Hoarding apparently accounted for a 1.1% rise in traditional cigarette volumes for the week ending March 22, a significant reversal for an industry in the midst of a secular decline. But now that smokers have stocked up on supplies, manufacturers are seeing a dramatic fall off in sales.
Convenience store data from Nielsen (NYSE: NLSN) shows sales for the week ending April 4 plunged 8.4% from the week before.
Image source: Getty Images.
Source Fool.com
