A report from MJ Biz that says that, at long last, there will be more choice in cannabis POS software
More companies have entered the marijuana point-of-sale market in 2021 than in previous years, setting up the possibility of downward price pressures in the POS sector and consolidation among businesses that provide the software to retailers.
While the new entries face a highly concentrated market, POS is becoming an important part of the so-called “software stack” that cannabis retailers use to handle a range of services, such as e-commerce and delivery.
That demand for bundled software services is driving cannabis tech companies such as Dutchie and Akerna to snap up point-of-sale providers.
The cannabis POS sector grew to 79 vendors in 2021, up 16% from the previous year and 75% from 2018 when Cannabiz Media, a Connecticut-based cannabis license database and marketing platform, started tracking the category.
This year, Cannabiz Media surveyed roughly 3,100 of the nearly 8,900 active dispensaries, retailers and delivery license holders the company tracks, or around 35% of the retail market.