#CitiBusinessFestival: Made-in-Ghana producers urged to use research to expand business

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#citibusinessfestival:-made-in-ghana-producers-urged-to-use-research-to-expand-business

Producers of made-in-Ghana goods have been urged to leverage research to help them break onto the shelves of Ghana’s largest supermarkets.

Michael Kottoh, the Managing Partner of Konfidants, whose organisation has carried out research into the retail industry over the years, said Ghanaian producers can identify gaps in the market they can fill using research.

This is especially so given the disruption of supply chains following the coronavirus pandemic, leading to a drop in foreign goods in some major supermarkets.

Speaking during the on-air series of the Citi Business Festival, Mr. Kottoh said the disruptions in the global supply chain could present opportunities for Ghanaian producers.

“Local producers can look at the research we have done, they can look at the product categories where we have seen a major drop in foreign brands, and they can approach the supermarkets and try and do a deal.”

Currently, 31 percent of goods in selected supermarkets in Accra are made in Ghana.

Aside from opportunities, Mr. Kottoh noted that small local retail shops could be facing competition from larger retail chains.

This is because the major retail chains could franchise their brands to smaller, local operators.

“If this happens, what we are going to see is a very interesting trend where the big retailers begin to take out the Ghanaian-owned small outlets,” Mr. Kottoh said.

The fourth week of the #CitiBusinessFestival will focus on consumer markets.

Mr. Kottoh spoke on understanding the dynamics of the Ghanaian retail space.

ABSA Bank is the main sponsor of the Citi Business Festival 2022 and is supported by MTN Momo and MTN Business, IT Consortium and the Ghana Investment Promotion Centre (GIPC) and GIRSAL.

The post #CitiBusinessFestival: Made-in-Ghana producers urged to use research to expand business appeared first on Citinewsroom – Comprehensive News in Ghana.

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