Article by Mike Adams, Forbes
The U.S. alcohol trade hasn’t had any real competition for more than eight decades, which has given it a clear path to become the mega $223 billion industry that it is today. But now that marijuana is legal in more parts of the country, booze slingers are starting to notice a slip in profits.
The situation is expected to spiral into darker territory once the cannabis plant is dragged out of the pits of federal prohibition once and for all. Some experts say this development is only around three years away. The consensus is if alcohol producers do not find a way to reconnect with the consumer, they stand to lose out big time the second marijuana goes legal in all 50 states.
The latest study from RaboResearch shows that “women and older, wealthier individuals” are fully prepared to put down the bottle and give legal marijuana a shot once the federal government removes it from outlaw status.
The firm says that while this part of the population may be apprehensive about dabbling in the doobie at the state level, especially considering some of the risks that are still involved with respect to employment and other factors, all of those concerns will likely go up in smoke once Uncle Sam finally embraces the herb.
In fact, we could see a situation where this demographic (people with an income over $50K per year) provides the cannabis industry with the largest increase in patronage.
There is another snag the alcohol industry will be forced to contend with once legal marijuana is a legitimate part of the American way: figuring out how to sell high calorie booze to the health conscious consumer.