Is Big Alcohol Taking a Hit From Legal Weed?

‘The legal weed market appears to be impacting booze’s bottom line.
Consumer trend data compiled by OutCo and Monocle Research finds that many California twenty-somethings, post-legalization, are switching from beer to pot. Marketers surveyed 2,000 cannabis consumers in seven major California cities. One-third of millennial respondents said that they are choosing cannabis over beer. One out of five acknowledged substituting weed for wine, and 14 percent admitted consuming herb rather than hard alcohol.
Older respondents, including baby boomers, also reported making the switch from booze to pot. According to the survey, 20 percent of Gen Xers and eight percent of boomers similarly acknowledged substituting pot in place of alcohol.’
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