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 toÂ a survey ofÂ some 40,000 beer drinkers inÂ America, the Cannabiz Consumer Group has noted that 27% now either make pot their go-to high instead ofÂ beerÂ â€” or would, if the states inÂ which they live legalize it.
The $100Â billionÂ thriving annual US beer business could lose upÂ to $2 billion inÂ sales, if pot was legalized onÂ the federal level, according toÂ Time magazine, cited byÂ the Times-Picayune newspaper.
Some 26 million Americans bought pot legally last year, boosting projections forÂ the annual take forÂ cannabis-related commerce toÂ hit approximately $50 billion inÂ 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. Â 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.
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. Â 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 JrÂ isÂ a writer for The Daily Economist, Secretsofthefed.com,Â Roguemoney.net, and Viral Liberty, and hostsÂ the popular youtube podcast on Mondays, Wednesdays and Fridays.Â Ken can alsoÂ be heard Wednesday afternoons giving an weekly economic report on theÂ Angel Clark radio show.