Today, cannabis markets are surging in popularity at a time when mental and physical wellness is top of mind for consumers. We’re already seeing the shifting vices; folks are straying from liquor to opt for cannabis and, in countries that have legalized medicinal cannabis, alcohol sales have dropped more than 12 percent. 

In an effort to adapt, alcohol brands of all sizes are tapping into this burgeoning industry. Some are investing in non-alcoholic and low-ABV products; others are creating sometimes questionable ways to imbibe cannabis; and still others, like Constellation Brands, are diving into uncharted waters with major cannabis investments, in order to overcome loss of alcohol sales with an expanded portfolio. 

For major beer, wine and spirits brands looking to take the plunge, there are a few key consumer insights drawn from cannabis industry research that can help in building targeted products and guiding promising investments:

Inform the first-time cannabis consumer

According to Eaze’s annual State of Cannabis report, first-time cannabis consumers grew by 140 percent in 2018, with baby boomers being one of the fastest-growing segments—increasing by 25 percent over the year. As with any new consumer base in any industry, welcoming new buyers with information and education goes along way in supporting their foray into a completely new territory, instilling trust in the product, and guiding them to make the right purchase decisions for their individual needs.