Market Research
Illinois Cannabis Market
This project involved comprehensive market research of the Illinois cannabis industry, including an analysis of competitors and an evaluation of potential dispensary locations.
Role: Market Researcher
Research Objectives & Goals
Determine if Naperville is an optimal location for a dispensary
Identify potential location obstacles, such as zoning restrictions, proximity to residential areas, or other regulatory limitations.
Evaluate political landscape and district regulations affecting dispensaries.
Conduct competitor analysis to understand market positioning, product offerings, pricing, target demographics, branding, and market share.
Research Methods
Secondary Research
SWOT Analysis
Stakeholder interviews
Crucial Insights
Based on our market research findings, Naperville has reached its maximum capacity for dispensaries, and any new additions would depend on the Mayor's consideration. Surrounding towns allowing recreational sales have restrictions on the maximum number of dispensaries. Many dispensaries strategically position themselves just outside the borders of towns that prohibit sales or in nearby cities. Mission South Chicago stands as the sole dispensary on the city's South Side, initially opening as Mission South Shore medical marijuana dispensary in 2017. While limited information was found on Lincoln Square, there is political support from the Mayor and 40th ward alderman for expanding dispensaries in Chicago as a whole. Notably, Illinois dispensaries experienced record-breaking sales of $127.8 million in recreational marijuana, with an influx of out-of-state visitors during the Lollapalooza music festival. To maximize visibility and accessibility, dispensaries should consider their proximity to city events.
Research Impact
Data analysis provided stakeholders with valuable insights about the market, shedding light on the need for greater inclusivity and opportunities for minority ownership in the industry.
Due to Naperville reaching maximum capacity for dispensaries, stakeholders explored alternative locations with less competition
Based on the research findings, new criteria have been incorporated into the location selection process. The updated criteria now include the requirement for the dispensary to be easily accessible to city events in Chicago, as well as adherence to local regulations limiting the number of dispensaries to a maximum of three in a city or town.
For additional findings and learnings, please contact leeah.dollar75@gmail.com