Friends, as we move into a new year, I’d like to turn the clock back a few weeks to December 9th, when Curaleaf announced the results of a survey conducted by The Harris Poll for them on cannabis consumption since the beginning of the pandemic. (link)
Although the press release is focused on general adult consumption habits, I found particularly interesting the reported finding that “more than half (57%) of parents with children under 18 who have ever consumed cannabis have reduced or replaced their alcohol consumption with cannabis since the start of the pandemic. Overall, amongst all adult cannabis consumers aged 21+, 45% say they have reduced or replaced their alcohol consumption with cannabis, and one-third (33%) of those who consume cannabis for adult use say they prefer cannabis to alcohol.”
This result is really interesting to me in the context of news reports from last year (which I discussed link; link) about alcohol beverage producers and distributors wading their way into the cannabis space, moves that create both risk (regulatory and competitive) and opportunity (synergy). (link) If these survey findings do indeed pan out, they’d be in line with other commentary (not just my own! (link)) speculating about a “substitution” of cannabis for alcohol by consumers. While regulatory hurdles remain, there are ways for both sectors to build relationships and position themselves for the future collaboratively.