According to a new report, marijuana is having a substantial impact on the alcohol industry, and a majority of millenials prefer cannabis over alcohol.
OutCo, a Southern California-based cannabis company, has partnered with Monocle Research to conduct a new report on the growing use of cannabis in California and its impact on the alcohol industry. The study revealed a sea of change is coming with many California millennials saying no to alcohol and yes to marijuana. Research further indicates this shift will continue to rise which could have a significant impact on the alcohol industry.
Millennials will be more open to diversity in their consumption of recreational substances than older generations, with more than 50% of them substituting cannabis for alcohol altogether. The study further shows that one in five Generation Xers will be substituting marijuana for alcohol, as will 8% of baby boomers.