More Reasons to Think Cannabis Will Hurt Wine Sales
It’s going to be fascinating down the road to try to track the correlation between California retail cannabis sales and California retail wine sales. While it’s being reported that retail sales of cannabis have not met expectations for the first two months of legalized recreational cannabis sales in California, we don’t yet have enough data to determine the extent to which legal cannabis will impact wine sales.
But they will.
RaboBank’s Boucard Nesin has penned a very interesting post that offers three reasons why wine sales could be impacted by legal cannabis. I highly recommend reading this article because it offers a logical and well-sourced argument why the wine industry ought to be worried.
The three reasons are:
Women and Older, Wealthier Individuals Say They Will Use More Marijuana After Legalization
Wine and Marijuana Compete for the Health-Conscious Consumer
Marijuana Legalization is Coming to States with High Wine Consumption
The second reason to worry about how cannabis sales will impact wine sales is the most interesting. Wine has deservedly developed a reputation for being the “healthy” sin. However, the wine industry itself is banned by law from discussing this. Cannabis is not banned from talking about this, which is how you can read cannabis producers and others in the industry telling us just how good for your health the weed is and why alcohol is terrible for you.
All that aside, I’d pose this question: How often do you see wine producers or wine promotional groups actively working to help promote the sales of beer and spirits?