Key Market Trends: Cannabis Is Impacting Alcohol Consumption And Driving Food Demand
Alcohol is losing ground to Cannabis and affecting demand in the food and beverage sectors, new research shows as Numerator unveils consumer trends in cannabis. This comprehensive survey of almost 6,000 individuals who have used THC and CBD products demonstrates shifts in alcohol consumption, an uptick in spending on cannabis, and an increased focus on snacks, beverages and utilization of food delivery services.
Main Trends
Alcohol and cannabis behavior: The reduction in alcohol consumption among cannabis users stands out, with 36% of respondents indicating a decrease in alcohol use since they began using cannabis. Nevertheless, alcohol and cannabis are, to some extent, still functioning like complementary markets, since users are buying slightly more alcohol than non-users. (73% vs. 65%).
Average spending by customer: In terms of spending, the survey has shown that 31% of users are spending upwards of $100 monthly …