The Quarter 2 Consumer Survey by Maverick Research reveals that 90% of consumers anticipate a decline in prices of foreign goods, aligned with the strengthening cedi. In contrast, only 78% expect similar price reductions for locally produced items.
The survey also found that rising prices have led 73% of consumers to switch to more affordable alternatives. Additionally, 68% said that price relief would motivate them to return to their preferred brands. A significant majority, 88%, indicated they would reconsider their brand choices — but only if prices are right.
Maverick Research’s Retail Audit and Shopper Pulse Data highlight a powerful consumer shift in Ghana that is reshaping strategies across the fast-moving consumer goods (FMCG) sector. “Our guidance to clients during Q2 was clear: Ghanaian consumers are looking for relief at the shelf and will reward manufacturers who provide it. Relief, in this context, is not about low prices alone but about empathy — brands demonstrating understanding and support during challenging times,” the report explains.
The report emphasizes that this shift is not a race to the bottom but rather a “flight to value,” where consumers reevaluate what is truly “worth it.” Maverick Research advised manufacturers to prioritize empathetic actions that offer relief, signalling an opportunity for brands to earn loyalty, grow volume, and achieve long-term success.
Two Brands, Two Strategies, One Clear Lesson
Maverick Research spotlighted two brands that adopted different approaches to delivering “relief” to consumers. Their outcomes serve as a masterclass in how decisive consumer insights drive measurable business impact.
Story by: Mercy Addai Turkson #ahotoronline.com