The retail industry in Ghana has experienced a paradigm shift because of increasing global trends, consumers shopping across both online and offline, and a need for retailers to deliver seamless shopping experiences. It has emerged as one of the most dynamic and fast-paced industry as the consumer is more equipped with information and demands more. The changing taste preference of the consumer has led to international players such as Game, Shoprite, Citydia, etc entering the market. Therefore, understanding the consumer and what they want is imperative in a rapidly growing sector.
In Ghana, a large part of retailing still happens in open-air markets despite a gradual shift to the formal space and ecommerce, which has been spurred by the rise in internet connectivity. Since the introduction of the internet in 1995, several facets of Ghanaian life including economic, social and commerce have been impacted. Most small retail outlets are using social media tools such as Facebook, Instagram, WhatsApp to market and sell products and services.
Retailers who were able to keep up with these trends in the retail space, both existing and potential investors can meet consumers’ needs and gain their loyalty.