Most Ghanaians Expect Lower Prices on Foreign Goods – Maverick Research Survey
By Praisebell Rosemond Larbi
A new consumer survey by market intelligence firm Maverick Research has revealed that nine out of ten Ghanaian consumers expect prices of imported goods to decline in the coming months, in response to the strengthening of the cedi against major trading currencies.
The Quarter Two Consumer Survey, part of Maverick’s ongoing Retail Audit and Shopper Pulse Data Series, found that while 90% of respondents anticipate lower prices for foreign goods, only 78% expect similar relief for locally manufactured products.
According to the research firm, the findings highlight a growing public expectation for retailers and manufacturers to translate currency gains into tangible price reductions on store shelves, particularly within Ghana’s fast-moving consumer goods (FMCG) sector.
The report also found that the surge in prices over the past year has altered consumer behavior, with 73% of shoppers switching to more affordable alternatives, while 68% indicated that any meaningful price relief would motivate them to return to their preferred brands.
Additionally, 88% of consumers said they would reconsider brand loyalty but only if they perceive genuine value for money.
Maverick Research said these findings point to a “powerful consumer shift” taking place across Ghana’s retail and FMCG markets, driven by the rising cost of living and evolving definitions of value and loyalty.
“Our guidance to clients at the time was clear: Ghanaian consumers are seeking relief at the shelf and will reward manufacturers who offer it. When we used the word relief, we meant it deliberately. It wasn’t about cheapness, it was about empathy. It meant a brand standing beside its consumers in tough times and demonstrating understanding through action,” the report stated.
The research noted that while many expected the post-inflation environment to trigger aggressive price wars, what has instead emerged is “a flight to value” where consumers are making deliberate, thoughtful choices about what is “worth it.”
“So, when Maverick advised manufacturers in Q2 2025 to bring relief to consumers, we were signaling an opportunity: brands that act with empathy will be the ones consumers reward with loyalty, volume, and growth,” the report emphasized.
Under the section titled “Two Brands, Two Strategies, One Clear Message,” the report noted that two leading FMCG brands adopted distinct approaches to delivering consumer relief, both yielding measurable market impact.
“Their results provide a masterclass in how consumer insight, when acted on decisively, drives measurable impact,” Maverick Research concluded.
