Although the current wave of recreational cannabis legalization can generate up to $22 billion in sales per year, not everyone is happy about the legalization. Research shows that the alcohol industry could be impacted by the legalization of cannabis.
The research by Wang and co-author Guiyang Xiong of Syracuse University looked at anonymous web data from January 2014 to April 2017. The study that is soon to be published shows that online searches for alcohol has dropped nearly 11% but tobacco products grew in searches.
“It appears the alcohol industry has valid reason to be concerned about legal marijuana and may need creative strategies to avoid market decline if it passes,” said Pengyuan Wang, an assistant professor in the Terry College of Business at the University of Georgia.
Another finding from the study was that online searches by adults of legalization of recreational marijuana increased by 17% but there was a decrease in searches by those age 19 and younger after the substance is legalized.
“Contrary to widely held public concern after recreational cannabis is legalized, teenagers appear to lose interest, rather than gain interest,” said Wang. “Policymakers only concerned with an uptick in teen users, may want to rethink their stance.”
Frank T. Luciano has been representing people accused of marijuana related issues for over 40 years. He is a lifetime member of the legal committee for the National Organization for the Reform of Marijuana Laws (NORML) and has been a member of the National Association of Criminal Defense Attorney’s for many years. He is familiar with marijuana, cocaine, and heroin related cases in Bergen (Hackensack), Passaic (Paterson) and Hudson (Jersey City) Counties. To get started with an initial consultation, contact Mr. Luciano today at 973-471-0004.