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With an average saving of 566.80 per year, a UK smoker who switches to a smoke-free alternative could save enough to pay for a holiday to Spain, Glastonbury tickets or a PlayStation 5

LEARN ABOUT: Pricing Research: What it is & How to Run It Factors Influencing Price Elasticity Several factors can influence whether a product is elastic or inelastic, including: Availability of Substitutes: If many alternatives are available, a product will likely be more elastic because consumers can easily switch to substitutes if the price rises

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