We know we’re typically blogging about compliance, licensing, and investment in the cannabis industry, but this story was too fun for the MMLG Blogger to pass up (plus! Connecticut’s getting serious about cannabis legalization.)
An economist from UConn recently published a study on the economic impact of legalization in Oregon, Colorado, and Washington. The results definitely won’t surprise you. His determination? Legalization of rec-use cannabis in those three states led to a spike in purchases of junk food like chips, ice cream, and cookies. Also: Duh.
Dr. Michele Baggio, an assistant professor in economics at UConn, pored over a decade’s worth of Nielsen consumer research data from 2,000 counties in the 48 contiguous U.S. states (sorry Hawaii and Alaska). His results showed a 3.1% bump in ice cream purchases, a 4.1% increase in cookies purchased, and a whooping 5.3% spike in chips purchased in Oregon, Colorado and Washington shortly after adult-use legalization. Somewhat surprisingly, at least to the MMLG Blogger’s non-PhD mind, was that the spike for ice cream and chips was pretty short lived, but that the cookie surge was unstoppable. Obviously the takeaway here is: invest in Keebler stocks and if you’re looking for an ancillary business investment, franchise a convenience store.*
Curious about snacking trends in California or other states? You’re gonna have to wait. Dr. Baggio’s study was limited only to states that had legalized for at least 18 months at the time of research. Additionally, while his intentions were to initially study possible connections to obesity and legalization of adult use there was no secondary researching into possible weight gain from these cravings. Despite our own, ahem, occasional late-night trips to Taco Bell or a corner store, we still get in about 30-40 miles of running/week, Dr. Baggio. Just wanted to let you know.
*Please don’t invest in Keebler Elf stock or franchise a convenience store on our recommendation. This is what we call a “joke”.