According to Firmus Advisory, Market research, regulatory compliance and trade development consulting firm, about 80% of retail consumers between the ages of 17 to 39 preferred to shop online (online retail business) using their smartphones and the internet.
Even though a lot more purchases are still done through traditional means, especially for food and beverages online retail business still outperformed it.
Small business owners and entrepreneurs are using social media platforms like Facebook, Twitter and Instagram to market and promote their products and services.
The survey which was conducted from 2010 to 2018 in these three locations namely, Kumasi, Accra and Takoradi also reported that Ghanaian households spends closely GH¢500.00 on food products resulting in annual household consumption of 21 billion.
Research Analyst at Firmus Advisory Nana Araba Koomson who briefed the press said the team concentrated on three products categories; food and beverages, fashion and health and personnel care.
She clarified that 37 percent of respondents reported buying food and beverages on a weekly basis. 60 percent of respondents shopped on a monthly basis for clothing and 56 percent for health and personal care products.
Ideally, she also said customers would like to be able to mix and match shopping online and offline to meet their immediate needs. She continued by saying consumers were more likely to be influenced by convenience when shopping online.
Ms Koomson noted that digitization is gradually transforming the retail landscape with sales, interaction, transaction, delivery, customer service, all taking a different form in the industry.
“Social media and mobile phones have led to more interactive transactions, increased volume of networking and real-time engagement with customers” she said.