What will happen to consumption of alcohol once cannabis is legalized?
With all the talk about the pending legalization of cannabis, many citizens, and industries, are curious as to the impact it will have in Canada. Research Strategy Group continues to study this topic in great detail.
Many alcohol companies in Canada are concerned that an already flat industry will face further sales pressure with the legalization of cannabis. According to the latest insights from CrowdIntelligence, Canadians think that is highly unlikely.
A recent prediction market among English Canadians suggests there is a low probability that alcohol consumption will decrease because of the legalization of cannabis: only a 28% chance that consumers will drink less wine; and for beer the probability is even less, at 23%. Text mined through artificial intelligence indicates that respondents from English Canada expressed mainly positive sentiments of optimism, encouragement, confidence and hope in their predictions.
CrowdIntelligence is an accurate and disruptive new way of predicting future events. Rather than asking what people will do, it asks them to predict the chances that something will happen. With each question asked through Predict, we understand the probability score and the ‘why’ behind their prediction.
Going forward we will be posting new insights each week from CrowdIntelligence on cannabis and other current issues from Canada, and around the world.
Source: Research Strategy Group, Canadian Cannabis Study, Toronto: April 13, 2018.