A new report from data platform Headset has revealed that Illinois has some of the highest-priced cannabis products in the United States.
The report – ‘A deep dive into the Illinois cannabis market’ – examines the state’s cannabis market, analyzing detailed data on thousands of products to determine how it compares to other states, focusing on key areas including sales growth, product category popularity, pricing, basket analysis and demographics.
Some of the key findings from the report include the state having very few brands and high market consolidation, with 68% of sales coming from the market’s top 10 brands, and 27% of total sales coming from vertically integrated products.
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The report highlights that this is the third highest of any currently tracked state behind only Colorado at 28% and Massachusetts at 44%.
Notably, the report found that Illinois has some of the highest prices in the country for cannabis products with the average item price currently being 89% higher than the rest of the US market.
Despite medical cannabis use being legalized in 2013 and adult-use cannabis being legalized in 2019, the state had approximately 120 licensed retailers in the Spring – which the report highlights is very low compared to other US states. However, the state is now issuing 55 new retailer licenses to expand access to its domestic market.
To read the full report please visit: https://www.headset.io/industry-reports/a-deep-dive-into-the-illinois-cannabis-market