Why Are We Doing Cannabis Drinks Expo?
Beverage Trade Network has launched its Global Trade Show Focused on the Cannabis Business.
For the first time in nearly 100 years, Alcohol has real competition. To discuss new opportunities for the drinks industry, BTN has launched its global trade show focused on the Cannabis business.
Here are just some of the questions you need to ask?
• Is a strategy in place around where to play in the market and how to win?
• What does the entire value chain look like and where are the opportunities beyond production and sale?
• Are there opportunities for vertical or horizontal integration?
• How well do you understand the marketplace and the segment you are trying to attract?
• How will you differentiate?
• Are you sufficiently capitalized to execute on your strategy? Are there opportunities beyond the USA and Canada?
• How big is this opportunity for your province or region?
Cannabis Drinks Expo will offer 3 different conference rooms where you will learn all about the industry and how the drinks industry can leverage its current infrastructure to tap into the cannabis market. View the first lineup of speakers here.
Understanding individuals’ motivation to consume was another important goal of the study, as a variety of reasons would likewise indicate a variety of commercial and branding opportunities.
This was, in fact, the case with people citing reasons, such as relaxation, stress reduction, social connection, and many others for consumption activities. Interestingly, there appears to be some overlap between certain motivations for recreational consumption and those usually associated with medical consumption, for example, to aid sleep or manage anxiety.
This raises the possibility of slowed future growth for the medical marijuana market if people discover they can manage certain medical conditions through recreational channels (though this would be further complicated if medical marijuana were subsidized – and hence made more preferable – as it is in Colorado).
Additionally, some of the motivators for recreational marijuana consumption – to have fun or help connect with others – could just as easily be associated with alcohol consumption.
For the most part, the consumption of marijuana and alcohol are distinct activities. Taken together, these two findings suggest a potential for some current beverage alcohol consumers to migrate away from that category and toward marijuana when it becomes legal.
Indeed, recreational marijuana industry aspirants need only look to the beverage alcohol industry for marketing and branding parallels. Positioning a brand to align with various consumer needs and activities will be a strong strategic option.
The study finds that the legalization of medical marijuana reduces alcohol consumption and that this evidence is consistent across different specifications and alcohol products. Counties in states legalizing the use of medical marijuana experience a significant decrease in the aggregate sales of alcohol, beer, and wine […] Read the full study
For those looking to enter this potential market on the ground floor, it’s important to put a strategic plan into place in advance. It’s equally important, however, to bolster action with the most current and accurate information available.
Sessions are planned to give you direct answers so you can plan your strategy for the Cannabis market.