Smoke more, drink less. That appeared to be the trend among Canadians in the first full year of legal cannabis, when beer volumes fell by 3% through November, according to data from Beer Canada.
“This is far worse than the trends seen between 2014-2018, where beer industry volumes fell an average 0.3%,” and appears to be related to Canada’s legalization of pot in late 2018, said Cowen analyst Vivien Azer.
Domestic beer volumes slid 3.9% through November, while imported beer volumes grew 1.4%. Cannabis consumers appear to prefer mainstream beer “as they pursue better ‘buzz for your buck,”’ Azer said in a note published Tuesday.
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Kristine Owram ~ Bloomberg.com ~