Welfare Officer of the Ghana Union of Traders Association (GUTA), Benjamin Yeboah has stated that prices of goods in the market have seen some level of reduction, though the extent varies depending on individual sellers and the sources of their products.
Speaking in an interview on Happy FM Morning show, Mr. Yeboah explained that the reduction in prices is mostly visible with new stock, since sellers who acquire goods at relatively lower rates are able to pass on some savings to customers. However, older stock continues to pose a challenge as traders find it harder to reduce prices on items that were purchased at higher costs.
“Even those who sell electronics are now advertising reductions in their products on various social media platforms,” he noted.
He further emphasized that there is no fixed percentage for price reductions. The variation, he explained, stems from differences in where traders source their goods, additional expenses incurred before items arrive in Ghana, and the seller’s own discretion.
“If a person decides to sell a product at a specific price that works for him and chooses to give a reduction so long as buyers will purchase, won’t he do it?”. According to Yeboah, this makes it difficult to establish uniformity in price ranges across the market. He stressed that every seller operates based on their cost price and margins, meaning that while some consumers may see noticeable reductions, others may not experience the same.
The GUTA Welfare Officer urged consumers to remain observant and take advantage of genuine reductions while encouraging sellers to maintain fair pricing to ease the burden on the public.
