Indopedia All Things Marijuana
Marijuana poised to steal market share from the alcohol industry. A new study from OutCo and Monocle Research shows 51% of millennials in California will replace alcohol with marijuana. While this is something many have wondered about, particularly with the passing of so many new cannabis laws in the last election cycle, this is the first actual study that TWB has seen about this subject matter.
According to the press release:
OutCo, a Southern California-based, fully vertical cannabis company, has partnered with Monocle Research to conduct a new report on the growing use of cannabis in California and its impact on the alcohol industry. The study revealed a sea of change is coming with California millennials saying no to alcohol and yes to marijuana. Research further indicates this shift will continue to rise which could have a significant impact on the alcohol industry.
Millennials will be more open to diversity in their consumption of recreational substances than older generations, with more than 50% of them substituting cannabis for alcohol altogether. The study further shows that one in five Generation Xers will be substituting marijuana for alcohol, as will…
