Millennials stopped drinking as much beer, so alcohol brands began to look to cannabis. But slumping Canadian beer sales and a tough 2019 for the cannabis industry may mean a cautious path forward.
that the rollout of their cannabis-infused beverages, which were expected to come on shelves in January, would be delayed. The company stated in its press release that it does not expect the delay to impact its revenue goals.
Sonshine said this is because senior management from those sectors have experience navigating a highly regulated market where expertise on consumer package goods and supply chain management are paramount. Moving forward in 2020, Sonshine predicted that we won't see liquor companies making huge sweeping investments in cannabis like Constellation did with Canopy Growth. Rather, what we might see are fewer capital-intensive joint ventures that would require lower-cost entry points, like the one between Molson Coors and HEXOS, as well as a continuation of hiring individual c-suite executives from the liquor and tobacco spaces.
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