Ghanaians now prefer non-alcoholic beverages, others due to high food prices

A survey by Maverick Research has shown that Ghanaians’ taste for Fast Moving Consumer Goods (FMCG) has declined due to the constant increase in food prices.

According to the survey, citizens are now offsetting food due to their expensive nature for non-essential items such as non-alcoholic beverages.

Luxuries have also become one that consumers are not exactly indulging in in recent times, the research added.

According to the report, as cited by myjoyonline.com, the factors contributing to the increases in food prices were found to be the increased cost of lending and the tough trading environment.

It was also found that soft drinks were some of the cheaper complements and substitutes for food items.

Food inflation, however, will persist and consumers will continue to switch, swap, and squeeze to more affordable brands due to the pressure on their disposable incomes.

Also, the pressure on disposable income will continue to result in a flight to value which will mean that winning brands will be the ones that enhance value proposition (relative to competition) amidst price increases and downweighing.

The focus of the survey was based on the prices of goods in the Food, Home and Personal Care and Non-Alcoholic Beverages sector of which 26 categories were covered.

These include bottled water, coffee, deodorant, fruit juice, home and house care, milk, toilet soap, and toothpaste.

Cities covered were Accra, Tema, Ho, Cape Coast, Mankessim, Koforidua, Takoradi, Sunyani, Techiman, Kumasi and Tamale.

SSD/NOQ

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