New York, NY: Beer sales are falling in states that permit the retail sale of marijuana to adult consumers, according to an analysis performed by the New York-based research firm Cowen & Company.
Their analysis reports that beer sales by several of the larger domestic producers have “collectively underperformed” the past two years in Colorado, Oregon, and Washington. They added, “With all three of these states now having fully implemented a [marijuana] retail infrastructure, the underperformance of beer in these markets has worsened over the course of 2016.”
Data published in July reported that per customer spending on retail marijuana products is on track to overtake consumer spending on alcohol sales.
A 2014 scientific review published in the journal Alcohol and Alcoholism posited that cannabis primarily acts as a substitute for alcohol rather than as a complement. It concluded, “While more research and improved study designs are needed to better identify the extent and impact of cannabis substitution on those affected by AUD (alcohol use disorders), cannabis does appear to be a potential substitute for alcohol.”
For more information, please contact Erik Altieri, NORML Executive Director, at (202) 483-5500 or Paul Armentano, NORML Deputy Director, at: paul@norml.org.