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Paradigm shift: American consumers switching from beer to pot in growing numbers

Paradigm shift: American consumers switching from beer to pot in growing numbers

Despite the harsh rhetoric coming down from the new President and Attorney General, the future of American recreational consumption is growing squarely in the camp of cannabis over the long-standing drug of choice, alcohol.

In a new survey of 40,000 primarily long time beer drinkers, over 27% stated that they would and are switching over to pot from alcohol in locations that have legalized the drug, and in states that appear on the cusp of doing so very soon.

According to a survey of some 40,000 beer drinkers in America, the Cannabiz Consumer Group has noted that 27% now either make pot their go-to high instead of beer — or would, if the states in which they live legalize it.

The $100 billion thriving annual US beer business could lose up to $2 billion in sales, if pot was legalized on the federal level, according to Time magazine, cited by the Times-Picayune newspaper.

Some 26 million Americans bought pot legally last year, boosting projections for the annual take for cannabis-related commerce to hit approximately $50 billion in 2017. – Sputnik News

As global demand for alcohol has declined, the same cannot be said for the American consumer, who saw their total purchases increase in 2016.  However as the economy starts to hit a wall similar to that of 2008-2010, these same consumers will be looking for a cheaper alternative to booze and cannabis will quickly fill that void.

Image result for pot replacing alcohol

As more and more states legalize the recreational ownership, sale, and use of pot as a viable drug, the potential for cannabis to become the next great industry is a strong probability.  And unlike the classic pictures of individuals making moonshine in the back woods of Kentucky, or gin in their home bathtubs, growing a few pot plants for personal use will very easily allow even predominantly alcohol drinkers to be able to appease their need for stimulants when the cost of their beverages gets a little too high.

Kenneth Schortgen Jr is a writer for The Daily Economist, Secretsofthefed.com, Roguemoney.net, and Viral Liberty, and hosts the popular youtube podcast on Mondays, Wednesdays and Fridays. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.


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