Cannabis and Wellness Trends Challenge Traditional Liquor Sales, Says Brown-Forman CEO
Originally Published 7 months ago — by Marijuana Moment
The CEO of Brown-Forman, parent company of Jack Daniel's, states that increasing marijuana use is exerting pressure on the alcohol industry, contributing to recent profit declines, as more consumers substitute cannabis for alcohol. This trend is supported by various studies indicating a shift in consumer preferences, with marijuana viewed as less harmful and increasingly used as a substitute for alcohol, especially among younger adults. International trends show similar patterns, and industry experts predict continued challenges for alcohol sales amid expanding cannabis legalization.