Illinois’ booming cannabis market is under the microscope in Pablo Zuanic’s latest report from Zuanic & Associates. With dispensary numbers on the rise, how are multi-state operators (MSOs) adapting amidst political changes and industry buzz? Zuanic emphasizes the essential role of thorough industry analytics.
Illinois’ Growing Dispensary Landscape
The analysis highlights the issuance of 74 social equity dispensary licenses from October 2022 to February 2024, primarily concentrated in Illinois’ densely populated northeast. This marks a significant augmentation to the pre-existing tally of 110 stores, potentially catalyzing market expansion.
The report posits that the relatively lower per capita cannabis spending in Illinois, compared to Michigan, is due to fewer dispensaries and lower product pricing—factors that are set to evolve with these new entrants.
Impact On MSOs
The increasing dispensary count, however, forecasts a dilution in revenue per store for existing establishments, alongside exerting downward pressure on retail prices.
Notably, the majority of these new social equity stores are situated in the greater Chicago area, intensifying …
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