As reported previously by WWD, drunk shopping is $44.9 billion industry in the U.S, it should come as no surprise then that Americans are looking to vices such as alcohol and CBD to get them through quarantine.
Under enormous stress, new data from the Harris Poll found that one in five consumers are consuming more alcohol during the coronavirus pandemic. That number was even higher, at 30 percent, for those in the 18- to 35-year-old range.
According to Catharine Dockery, founding partner of Vice Ventures, the venture capital fund that invests in “vice” categories including sextech, cannabis, CBD and alcohol, similar trends are being seen across other vice products as well. And a large part of this is an increase in self-care marketing.
“People are really investing in self-care and are seeking out their favorite brands for DTC consumption,” Dockery said. “One company in our portfolio that’s seen an explosion of sales is Lucy [because] consumers are showing a real interest in alternative and harm-reducing ways to consume nicotine where they can stay inside and not inhale smoke or vapor.”
“We are seeing our wellness brands in the Orthogonal portfolio thriving in new and different ways,” said Alex Speiser, chief operating officer at Orthogonal
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