Alcohol companies are witnessing a decline in traditional sales, with beer down nearly 6%, spirits down 5.6%, and wine down 9%. This downturn is attributed to rising prices, tighter budgets, and increased health awareness among consumers. As a result, there is a notable shift toward cannabis beverages, particularly those infused with hemp-derived THC, which are becoming widely accepted, available in various retail outlets. Stores are adapting by allocating shelf space for THC drinks, which also offer better profit margins, contributing to their growing popularity as consumers pursue healthier alternatives to alcohol.
The pandemic-era spike in liquor and beer sales has fizzled out, with beer sales down nearly 6%, spirits down 5.6%, and wine down 9%. Rising prices, tighter budgets, and health concerns are driving consumers away from traditional alcoholic beverages.
THC beverages, especially those infused with hemp-derived THC, are experiencing a surge. Unlike marijuana-based THC drinks, hemp-derived THC seltzers are federally legal and sold widely in liquor stores, supermarkets, and convenience chains across the nation.
Minnesota-based Top Ten Liquors reports that 15% of its sales now come from THC beverages, a category that didn’t exist in its stores just two years ago. Since these drinks have better profit margins than beer or wine, they are helping offset declines in traditional alcohol sales.
Today's drinkers desire a cleaner experience that aligns with wellness routines and avoids the negative aspects associated with alcohol, such as public health warnings linking moderate drinking to various cancers.
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