Alcohol brands offer the best of both worlds with cannabis-infused products
Trend - As many brands in the alcohol space work to compete with the emerging and ever-growing cannabis industry, some are pivoting to instead integrate cannabis and its derivative ingredients into their offerings. Putting a focus on both CBD and THC as active ingredients, this approach breathes new life into an age-old product space, and keeps alcohol brands competitive in an era of uncertainty.
Insight - Younger consumers, especially Millennials, are making lifestyle changes due to health benefits associated with reducing their alcohol intake. These consumers are increasingly breaking away from the traditions associated with alcohol use, and as a result, the industry is having to adapt to this change.
Insight - Younger consumers, especially Millennials, are making lifestyle changes due to health benefits associated with reducing their alcohol intake. These consumers are increasingly breaking away from the traditions associated with alcohol use, and as a result, the industry is having to adapt to this change.
Workshop Question - What's a radical way that could you work with a top competitor of yours?
Trend Themes
1. Cbd-infused Products - The integration of CBD into alcohol products creates a new offering that appeals to health-conscious consumers.
2. Alcohol-free Beverages - The introduction of alcohol-free alternatives invites more consumers into the market.
3. Cannabis-infused Wines - By infusing cannabis into wine, brands are adding an entirely new layer of depth and complexity to an age-old product.
Industry Implications
1. Alcohol - The alcohol industry is adapting to changing consumer preferences by incorporating CBD to appeal to health-conscious consumers.
2. Health and Wellness - The rise in popularity of CBD-infused products highlights consumers' growing interest in health and wellness.
3. Cannabis - The integration of cannabis into traditional products is creating new opportunities for the cannabis industry to expand its reach.
