Marijuana Legalization Is Driving Down Beer Sales
As legal marijuana grows in popularity, domestic beer brewers are starting to take big profit hits in states where recreational pot is legal.
People are now spending their money on weed at a similar rate to alcohol states with legalization, especially among the younger generation. The shifting landscape is digging into the profits of the major brewers and craft brewers alike. MilllerCoors saw a 4.4 percent decline in sales of Coors Light over the past two years in Colorado, Washington and Oregon, where marijuana is legal for recreation use. Anheuser Busch-InBev saw a similar drop in sales of Bud Light in those three states, while sales for the company’s flagship beers, Coors and Budweiser, experienced a 2.4 percent drop, reports Time – READ MORE