Consumer purchase declines further at Easter
By Oghale Mafuru
Following the persistent economic challenges besetting the country, consumers purchase has declined considerably despite the Easter celebration, a day set aside to commemorate the death and resurrection of Jesus Christ.
MARKETING EDGE intelligent report revealed that most superstores, retail outlets and Quick Service Restaurants in town which used to be a beehive of activities during yuletide periods had few customers shopping for food items.
Some of the customers who spoke to MARKETING EDGE on anonymity while lamenting the harsh economic conditions stated that they are prioritizing essential needs to maximize limited income.
“To be sincere, things are very bad. It is Easter but you see that prices of foodstuffs keep rising. There is nothing we can do. We go to church like we usually do and go home to eat what we have. I buy the basic things I need” one of the buyers said.
“Where is the money to celebrate Easter? One customer asked rhetorically.
“We are still trying to survive the hardship the naira redesign policy caused. Things are very bad. People are suffering. How can we buy anything. Prices are still very high”.
Pat Amami, a shop owner while lamenting the low patronage blamed the continued economic crisis on government policies.
“Usually, Easter period comes with increased sales for us. See how we just sit here. People are not buying like before. Everybody is complaining, no money. Government should do something to stop this problem. It is affecting our business”.
Though the Central Bank of Nigeria had rescinded its earlier decision on the use of the old naira notes as legal tender, Nigerians are still grappling with the adverse effect of the regulation as inflation continues to bite deep amid decline in purchasing power.
Following the directive of the apex financial regulator to banks on the issuance and acceptance of the old naira notes, banks immediately commenced daily payouts of cash.
This drastically reduced the mammoth crowds at the gates of banks and as well as the charges for Points of Sales, POS transactions.
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