- A research has shown that a lot more Ghanaians are purchasing items online.
- The report attributed this to the increasing middle class, the proliferation of smartphones and tech-savvy young people.
- However, the report admitted that more people are still buying from offline markets.
A new report on Ghana’s retail industry titled “Digitize or Die” has shown that there is a steady rise in the volume of e-commerce transactions, due to an increasing middle class, the proliferation of smartphones and tech-savvy young people.
The report stated that a time is coming where only retailers who are abreast with digital trends and understand the changing lifestyles of their customers would succeed in the market.
The report, however, stated that despite the increasing online purchases, more people are still buying from physical markets. The items being purchased in offline markets include food and beverages.
The report was published by Firmus Advisory, a leading Market Research, Regulatory Compliance, and Trade Development.
The respondents were more than 2,500. They were surveyed both on social media and offline in Accra, Kumasi, and Takoradi. The research sought the respondents’ views on current trends in the retail space, the drivers and inhibitors of shopping online or offline.
The survey also monitored retail outlets across the three cities that were also engaged in in-depth interviews to understand the workings of the sector. It also looked at the spending habits on Food and Beverages, Health and Personal Care, and Fashion products.
The Research Manager, Albert Cofie, who presented the report said other factors that have increased online transactions include a relatively young population, political stability, and a favourable investment climate.
A Research Executive, Araba Koomson, said they found out that young entrepreneurs who were using social media platforms to market their goods were making some good returns.
“In sum, digitization is changing the retail landscape from pre to post-sale transactions, communication, distribution, and customer feedback,” she said, adding that, consumers’ shopping habits and lifestyle are some of the major drivers that would shape retail trade going into the future.”