Headset, a data platform for the cannabis economy, recently released a report that examined the Illinois cannabis market. According to Headset, “This report analyzes detailed data on thousands of products in the Illinois market to determine how it compares to other states. Key areas of focus include sales growth, product category popularity, pricing, basket analysis, and demographics.” In this article, we highlight one of the most glaring statists in the report: the price of cannabis in Illinois.
Headset examines the average item price (AIP) and equivalized quantity (EQ) price in Illinois versus the rest of the Unites States. EQ price is the price per gram for inhalable products. According to the report, “Prices in Illinois are among the highest in the country. The average item price in Illinois is currently 89% higher than the rest of the US market and EQ Price is 97% higher.”
The report continued, “Illinois’ average item price is 46% higher at $33.82 than the second highest Massachusetts and has a 36% higher price per gram ahead of Nevada.” Headset has the June 2023 price per gram in Illinois listed at $13.77. In contrast, Cannabis Regulation Oversight Office (CROO) has June 2023 price per gram in Illinois listed at $10. Either way, Illinois leads all legal states in highest-priced cannabis per gram.
EQ prices in Illinois have slowly, very slowly, dropped since October 2021. According to Headset, “In the last year, EQ price in Illinois has dropped 26.8% compared to 17.3% nationally.” EQ price in Illinois started at $17.99 on July 1, 2022, and ended at $13.77 on June 1, 2023. Headset listed EQ price for “Other Markets EQ Price” as $6.68.
According CROO, EQ price in Illinois peaked in April 2020 at $18 per gram. CROO’s data shows that the most significant drop in cannabis prices is with extract products. In Illinois, EQ extract price per gram started at $117 in January 2020. Extract price per gram peaked at $125 per gram in March 2020. The current extract price per gram (as of June 2023) is $73. Edibles and infused drink saw slight decreases in price per gram since legislation. Edibles have dropped from $28 to $23, and infused drink price per gram dropped from $31 to $17. In contrast, liquid RSO prices have actually increased from $60 to $68, and infused topical products have stayed the same at $41. For more Illinois cannabis industry news, visit here.
To find cannabis-friendly events in Illinois, visit here.
For Illinois News Joint reviews, visit here.
To qualify and receive a medical patient card at a discounted rate, visit here.
The post Illinois cannabis prices ‘highest in the country’ appeared first on Illinois News Joint.