Thursday, February 21, 2019

Cannabis and wine: People combine them, but restaurants and shops cannot

This looks like wine, but it isn't
Cannabis has been legal in Colorado for five years now, which means finally there is some legitimate market data. Here are some highlights from a seminar at last month's Unified Wine & Grape Symposium:

* More than 50% of American adults aged 21+ have tried cannabis at some time

* 32% of adults 21+ in fully legal states have used cannabis in the last six months

* 25% of adults 21+ in the 33 states where cannabis is legal for medical OR recreational use have used it in the last six months.

* In states where cannabis is legal, flower (the buds you smoke) quickly loses market share to edibles and concentrates. In Colorado, flower accounted for 69% of sales in 2014, but just 43% of sales in 2018.

* Branded products are taking over. In Colorado, branded products are up to 44% of sales, which is even more impressive when you consider flower is not branded in the state. 96% of edibles in Colorado are branded. Willie Nelson, Bob Marley and Snoop Dogg have cannabis brands; so does Goop. No wonder Constellation, wine brand-sellers extraordinaire, is investing in cannabis.

Friday, February 1, 2019

Millennials are talking but the wine industry isn't listening

In the last two weeks I watched two separate annual State of the wine Industry presentations. Both were focused on millennials and were worried that they aren't drinking as much wine as hoped.

The reasons why were all in the reports. But the wine industry is pretty much doing the exact opposite of what millennials are saying they want.

First, take a look at the two stories, then come back here and I'll explain. Here's the story from the Silicon Valley Bank report. I did not suggest or agree with this headline, but it's hard to blame my editor for trying to attract page views in a month that saw some of the largest layoffs in history for online news organizations. Clickbait helps pay my wages: Millennials now ruining wine as well

Second, here's the story from the Unified Wine & Grape Symposium. This headline is also clickbaity but reflects what was said: Wine and sex off the millennial menu

Now, forget about sex and smartphones. Let's talk about what millennials are telling the wine industry they want -- and how the industry is ignoring them

1. Millennials like healthy products

Why else would kombucha be so popular? Millennials care about what they put in their bodies.

So what's the wine industry's response?