Alcohol, Cannabis and the Changing US Consumer
Identifying opportunities, concerns to consumption behavior
With 29 states and Washington D.C. adopting recreational or medical cannabis programs and more potentially joining in as legislative sessions continue, many beverage alcohol companies are left wondering how increased accessibility to cannabis will reshape alcohol sales across the United States.
Constellation Brands Inc., seller of the Corona beer brand, recently invested approximately $4 billion in Canopy Growth Corp., a Canadian company operating the cannabis space.
To shed new light on the implications of cannabis for businesses engaged or invested in alcohol, BDS Analytics, a company operating in comprehensive, actionable, and accurate cannabis market intelligence and consumer research, has partnered with the IWSR, an authority on global beverage alcohol data and trends, to release a new report: "Beverage Alcohol, Cannabis and the Changing US Consumer."
"There is a lot of confusion surrounding the true impact cannabis has on alcohol consumers, so we are taking an analytical approach to better understand the interaction between the two industries," said Brandy Rand, President of IWSR US "By combining our resources with BDS Analytics', we can tap into our respective pedigrees and debunk any misconceptions with un-sensationalized, research-backed insights."
"Some products and categories will face risks while others, with the right approach, will be able to leverage the many opportunities that a legal cannabis market brings. By looking at the US market, businesses will be able to better anticipate changes internationally," said Linda Gilbert, Managing Director of Consumer Insights for BDS Analytics.
The report covers:
• Which markets and channels will feel the greatest impact of recreational legalization, and how the alcohol industry can proactively plan for these changes
• Overlap between the demographic profiles of the typical beverage alcohol and cannabis consumer
• Which consumer segments should be considered "at risk" or "of interest" for beverage alcohol
• How per capita consumption stacks up among these consumer segments
• Ten threats and opportunities that should have your attention