WCVC's CBD Beverages Could Help Offset Declining Alcohol Sales in Restaurant Sector
PR Newswire
DENVER, Aug. 13, 2019
DENVER, Aug. 13, 2019 /PRNewswire/ -- West Coast Venture Group, Corp. (WCVC) ("WCVC") is pleased to share an update on why it believes that CBD beverages are the future of the restaurant sector.
Diners' habits are changing
Anyone familiar with the restaurant sector will be aware that diner habits have been changing subtly over the past few years. There has been a consistent decline in alcohol consumption, particularly amongst younger consumers, with general sales declining by 0.8% last year. This trend has also lead to an increase in alcohol free drinks and coincides with a general rise in consumer demand for alternative, health conscious, products.
"This represents a significant problem for any restaurant owner" mused Jim Nixon, founder and CEO. "In fact, the rule of thumb says that alcohol sales should be around 30% of a restaurant's revenue, but in some rare cases it can be as high as 50%. This is a significant portion of any restaurant's revenue that is melting away before our eyes. CBD infused water could provide a way around that."
CBD Infused Water could provide the solution
The CBD beverage sector is predicted to be worth $1.4 billion by 2023 and represents one of the cannabis market's fastest growing subsets. As demand for alcohol-free drinks increases, CBD "mocktails" and waters could represent a way for restaurants to close the gap opened up by declining alcohol sales.
"Restaurants in particular are forced to live by the maxim 'adapt or die', and that is why we took the decision to embrace CBD and become America's first CBD restaurant stock. The first step was to introduce our now iconic Illegal Brands CBD Water across all of our Illegal Burger and Illegal Pizza locations," said Jim Nixon, CEO, WCVC.
Illegal Brands water comes in two flavors, passion fruit and mango Bergamot and each bottle contains 30mg of CBD with zero sugar, no additives, and zero calories. The CBD is sourced from Mile High Labs and the water is bottled at Rocky Mountain Bottled Water. Lab results can be found on the company's website.
"Our market research demonstrates that there is a significant demand for CBD products and this is why we have positioned our firm as a CBD restaurant stock, putting us in the perfect position to generate consumer traction in two dynamic, growing, sectors," said Jim Nixon, CEO, WCVC.
About West Coast Ventures Group Corp.
Based in Denver, Colo, West Coast Ventures Group Corp. (WCVC) is America's first CBD restaurant stock under Illegal Brands and operates a number of contemporary restaurant concepts including the flagship Illegal Burger a quick-casual burger + bar concept. Led by seasoned restaurant entrepreneurs, WCVC management is committed to scaling both modern sustainable concepts into national franchise models operating metro-styled restaurants serving only the finest and freshest natural ingredients.
Forward-Looking Statements
This document may contain forward-looking statements, relating to West Coast Ventures Group Corp operations or to the environment in which it operates, which are based on West Coast Ventures Group Corp operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond West Coast Ventures Group Corp control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. West Coast Ventures Group Corp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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