Will Legalizing Weed Really Affect Craft Beer Sales? (Maybe Not.)
In the not-too-distant past, many of America’s parts got proactive on the pot-legalization party. However, the beer industry felt a paranoid itch in terms of indica and sativa sales—a normal knee-jerk reaction to any possible, recreational rival. Heck, just about anyone can enter a dispensary and drop $15 on dried-up plant that makes folks feel peaceful (no empty containers, plastic holders and/or bottle caps to discard). Why deal with the worry of drinking yourself into a drunken disposition to the point of being stuck far from home and risking a rough morning—pot’s clearly the prime choice, right?
Not really—alcohol’s not going anywhere. There’s around $1 billion getting gambled with marijuana made legal, and investor corporations have this market’s movements under their microscopes. Well-known-firm Bernstein recently released research showing pot’s not impacting suds sales at all rather possibly making an improvement in the ale industry.
Within their report, “Weekend Consumer Blast: Beer & Weed Revisited,” the research reveals that while Mary Jane was a burden on beer initially, the two, timeless treats are back to being the beloved buddies that’ve gone hand in hand over time.
“In the three years [before] legalization, per capita beer consumption was falling one percentage point faster than the national average,” the report states. “But in the [three] years after, per capita consumption trends were broadly in-line with the national average.”
In other words, the report proved sauce sales are soaring in direct correlation with people’s legal-marijuana-maintenance programs—backed by 10 analysts observing broad, market trends and data.
“If anything, our analysis indicates that the legalization of medical marijuana had a positive impact on beer volume trends,” the report’s authors discovered. They also said cannabis and beer “are more complements than substitutes.”
Additionally, it pontificated on artisan alers having an advantage, as craft-beer buffs also go ga-ga over ganja strains.
“Many industry observers point to the similarities of the craft beer and cannabis cultures and feel that legalizing weed could help craft beer grow sales while eating into the larger brewers’ market share. It isn’t surprising that the states with the highest share of craft beers also tend to be the more liberal states, where recreational or medical marijuana is likely already legal,” the report revealed, citing Colorado, Washington and Oregon among others.
To further add to this evidence, the Bernstein report concluded their findings with a thought on the food industry. “Finally, while the jury may be out on the impact on beer consumption, other beneficiaries could include: Chipotle (CMG), Dominos Pizza (DPZ), Frito Lay (PEP) and Pizza Hut/Taco Bell (YUM).”
Amazing...stoners are all about late-night noshing. If an investment firm’s findings don’t decrease the fear of bud booting beer out of the picture, what will it take...?