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.
– Read the entire article at Forbes.