BAT Unveils Business Strategy Focusing on Alternative Products

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The new corporate goal to build “A Better Tomorrow” includes a 1 billion pounds ($1.24 billion) cost-saving and investment plan and promises to reduce the health impact of its business by focusing on revenue from safer tobacco alternatives.

BAT says that its “new category” products, including e-cigarettes and heated tobacco products (HnBs) will drive the revenue growth, adding that it expects to create 5 billion pounds in new category revenue in 2023/24.

While BAT, like other tobacco companies, has been trying to convince the world that they genuinely care about harm reduction, most rightfully believe that this is just a survival strategy that Big Tobacco needs to employ in order to stay afloat amidst the declining cigarette sales.

BAT pointed out that its “new category” products, including e-cigarettes and heated tobacco products (HnBs) will drive the revenue growth, adding that it expects to create 5 billion pounds in new category revenue in 2023/24. The London-based company said it expects to have 50 million noncombustible product consumers by 2030 and are aiming to achieve carbon neutrality by the same year.

The company also announced the launch of a new project called “Quantum”, an efficiency project which aims to save 1 billion pounds through a business simplification scheme over the next three years.

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Source: VapingPost