The Financial Post reports in its Thursday, March 26, edition that alcohol and cannabis are two things consumers cannot seem to go without, even in the midst of a global pandemic and a halted economy. A Bloomberg dispatch to the Post reports that the newly legal marijuana industry has never weathered an economic downturn, so the industry was not entirely sure how it would perform in one. A survey of 1,005 United States consumers by MKM Partners found that demand for pot appears to be just as inelastic as demand for alcohol. When asked whether they were spending more or less on various discretionary categories as a result of the coronavirus pandemic, media, alcohol and cannabis were the categories that showed the highest indications of spending. The two intoxicants, along with media, also had the fewest respondents who indicated they were spending less, MKM analyst Bill Kirk said in a note published Wednesday.
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