Are you aware of the impact of Inflation on FMCG prices and consumption?

Inflation is the general increase in prices over time and has significant ripple effects across all sectors of the economy, especially FMCG (Fast Moving Consumer Goods – Food, Non-Food, Non-Alcoholic Beverages and Alcoholic Beverages). Since FMCG products are mostly life essentials, any price hike directly affects household budgets on consumption and business performances.

How Inflation affects FMCG Companies and Consumers

  • untickedRising Input Costs:
    In general, Inflation drives up the cost of raw materials, fuel, packaging, and labour use in the manufacturing of the FMCG products. These increase the cost of production of FMCG, forcing manufacturers to either adjust their pricing or reduce profit margins.
  • untickedShrinkflation or Package Downsizing Strategies:
    In periods of high levels of Inflation, instead of raising prices outright, manufacturers often reduce the weight ,size or quantity of products while maintaining the same price. This practice, known as “shrinkflation,” helps manufacturers to manage consumer perceptions but could lead to dissatisfaction
  • untickedChanges in Consumer Behaviour:
    Prolong high levels of Inflation weakens purchasing power and chips away consumer confidence. In this situation, consumers may switch to cheaper brands, reduce consumption, or prioritise necessities over luxuries. This forces manufacturers and brands to re-evaluate their product mix and pricing strategies.
  • untickedPressure on Retailers:
    Retailers face higher operational costs and may struggle to balance price increases with customer retention. This can lead to increased use of promotions, discounts, or loyalty programs to maintain sales volume. In some places, this could lead to price differentiations and hence, price discrimination, especially in retail outlets where the prices are not displayed on the products.
  • untickedSupply Chain Disruptions:
    General high Inflation levels in a country, often leads to higher fuel and transportation costs, which can strain supply chains. Delays and bottlenecks may further elevate costs or reduce product availability, hence exacerbating the upward prices pressures

Impact on the Economy and Society

  • Widening Economic Inequality: Inflation hits lower-income households the hardest, as they spend a larger portion of their income on FMCG essentials. This normally leads to cost-of-living crises for some sections of the society.
  • Policy Reactions: In most countries, the Central Banks are tasked to use monetary tools to deal with inflation. In a high level inflationary situation, Central banks may raise interest rates as a tool to combat inflation, which can slow economic growth and affect investment in FMCG businesses and hence impact on economic growth.
  • Shift to Local Alternatives: In a high inflationary economic landscape, imported goods become more expensive, potentially, due the impact of the exchange rate. In this situation, demand for locally manufactured substitute goods may go up allowing the local industries to compete and hence, reshaping the competitive landscape.

Follow SumsureIQ for more discussions on the FMCG sector.

Are you a manufacturer/Retailer, a stakeholder or a player in the FMCG market in any African country? Are you leveraging real-time retail insights to scale your business for growth?

If you wish to leverage real-time retail audit data to improve your categories and brands share performances, SumsureIQ (www.sumsureiq.com) is ready to have a discussion with you.

Please visit our website and contact us: www.sumsureiq.com

#FMCG #FMCGSector #sRetailIQ #sConsumerIQ #sConsultancyIQ #SumsureIQ

Are you aware of the differences between Retail Audit Index (RAI) and Retail Store Observation (RSO) approaches of Market research?

Here are the main differences . You may also visit SumsureIQ Website (www.sumsureiq.com) for more details.

SumsureIQ is a full service market research agency. We provide a variety of market research products based on robust econometric and statistical approaches.

Our main product is Retail Audit Index (RAI) for which we have monthly data from January 2022 to date for over 70 segments/categories. We also do Retail Store Observations (RSO). However, these are bespoke researches based on client specifications/requirements and objectives. For more details on our services and product range, visit our website at www.sumsureiq.com

Are you a manufacturer/Retailer, a stakeholder or a player in the FMCG market in any African country? Are you leveraging real-time retail insights to scale your business for growth?

If you wish to leverage real-time retail audit data to improve your categories and brands share performances, SumsureIQ (www.sumsureiq.com) is ready to have a discussion with you.

Please visit our website and contact us: www.sumsureiq.com

#FMCG #FMCGSector #RetailAuditIndex #RetailStoreObservation #SumsureIQ #sRetailIQ #sConsumerIQ #MarketResearch #TopBrands #TopManufacturers

SumsureIQ Quarterly BRAND PERFORMANCE TRACKING INDEX Reports – 9th Edition

Top_10_brands_GH_Jan_Mar_2025
Top_10_brands_GH_Jan_Mar_2025

SumsureIQ has the most complete view of the FMCG market and consumer behaviour in Ghana.

Consumers in Ghana spent between GHS 57.7 Billion (US$ 3.7 Billions) and GHS 63.5 Billion (US$ 4.1 Billions) on Fast-Moving Consumer Goods (FMCG) from January to March 2025. These figures are about 29% and 4% increases in GHS and in USD terms respectively compared to the same period in 2024.

Of this amount, Food accounted for 60%, Non-Alcoholic Beverage, 15%, Alcoholic Beverage, 12% and Non-Food, 13%. These figures would suggest that, Food have increased by 1% point compared to the same period in 2024 and that, the Food Sector is one of the main drivers of growth in the FMCG Market in Ghana.

The data also show that over 40 Manufacturers/Suppliers accounted for more than 75% of all the January to March 2025 FMCG consumer value sales in Ghana. In general, SumsureIQ data may suggest that there is some recovery in Ghanaian economic landscape.

Questions?:

Are your brands in the consumers’ shopping basket in this seemingly economic recovery landscape in Ghana? Do you want to know more about your brands and categories performance and that of your competition?

Are you a manufacturer, a supplier, a stakeholder or a player in the FMCG market in any African country?

Are you leveraging real-time retail insights to scale your business for growth?

If you wish to leverage real-time retail audit data to improve your categories and brands performances, SumsureIQ is ready to have a discussion with you.

Contact us by visiting our website at www.sumsureiq.com

#GhanaFMCG #SumsureIQ #RetailAudit #sRetailIQ #sConsumerIQ #sConsultancyIQ #MarketResearch
#RetailTrends #BrandPerformance #CategoryPerformance #AfricaMarketResearch #AfricaFMCG

The Power of Fieldwork and Retailer Engagement in Retail Audit Measurement!

Ever wondered what SumsureIQ Field Auditors do on the field? Their role is crucial in ensuring accurate and reliable market insights for our clients through quality data collection and engaging with the retailers as well as consumers. Here is how they make it happen:

✅ Outlets Audits & Assessments – They visit retail outlets every month to check product availability, pick up stock levels and purchases, record prices and placement.

✅ Retailers Engagement – They interact with the retailers (the outlet owners) every month to gather real-time feedback and buying behaviours of consumers.

✅ Competitor Analysis – The data they collect track market trends and how competitors are positioning their products (both new launches and already existing ones).

✅ Data Accuracy & Verification – They ensure that all collected data are precise by reducing errors so that the data can be used for analysis in order to have an informed decision-making process.

At SumsureIQ, we ensure that our field auditors are well-equipped with the latest technology (leveraging AI App) and robust auditing methodology skills to deliver real-time, accurate, robust and high-quality data that drives impactful business tactical and strategic decisions!

Are you a manufacturer, a stakeholder or a player in the FMCG market in any African country? Are you leveraging real-time retail insights to scale your business for growth? If you wish to leverage real-time retail audit data to improve your categories and brands performances, SumsureIQ is ready to have a discussion with you.

Please visit our website and contact us: https://sumsureiq.com hashtag#RetailAudit hashtag#FieldworkMatters hashtag#SumsureIQ hashtag#DataDrivenDecisions hashtag#BusinessGrowth hashtag#MarketResearch hashtag#DataAccuracy hashtag#Sunyani hashtag#sRetailIQ hashtag#sConsumerIQ hashtag#sConsultancyIQ, hashtag#FMCGGhana Dr Erasmus L Owusu, PhD., Bright Alorwoyie, Frank Woode, Winifred Harriet Asante, Shadrack Kankam, JOSHUA NARGEH, CA, PEARL SENYAGLO make 2000 characters

Did you know that over 75% of FMCG brands in African Countries lack real-time retail data?

Did you know that over 75% of FMCG brands in African Countries lack real-time retail data?

This gap leads to stock mismanagement, lack of knowledge about their route-to-market (RtM), lack of knowledge about your brand coverage, low levels of product and brand awareness, low sales growth and ultimately,  lower than expected profits.

These are some of the missed opportunities that real-time data from SumsureIQ can help to plug and fix about your brands!

At SumsureIQ, we support brands and manufacturers to bridge this gap with our monthly Retail Audit Measurement Services (sRetailIQ) in FMCG, our Consumer Measurement Services (sConsumerIQ) and our Bespoke Consultancy Services (sConsultancyIQ)—giving businesses accurate data to make smarter, tactical and strategic decisions.

📌 Key FMCG Retail data Trends for 2025:
Increased digital transformation in retail audits
🔘 Capture the growing consumer preference for value-driven brands
🔘 Leverage the power of the rise of hyper-local consumer insights
🔘 Improving the usage of real-time retail market data and brand  coverage
🔘 Robust methodology for the predicting of customer preferences
🔘 Improving stocks and inventory management

Are you leveraging real-time retail insights to scale your business for growth? If you wish to leverage real-time retail audit data to improve your brand performance, SumsureIQ is ready to have a discussion. Please check our website and contact us: https://sumsureiq.com
hashtag#GhanaFMCG hashtag#sRetailIQ hashtag#sConsumerIQ hashtag#sConsultancyIQ hashtag#SumsureIQ hashtag#MarketResearch hashtag#RetailTrends hashtag#BrandPerformance hashtag#CategoryPerformance hashtag#AfricaBusiness hashtag#AfricaFMCG

FMCG sector shows signs of recovery in 2024

According to new research by SumsureIQ, a top market and economic research agency and consultancy in Ghana, Ghana’s Fast-Moving Consumer Goods (FMCG) sector is showing signs of improvement in 2023 and 2024, despite a difficult landscape characterised by cost-of-living crises and constant inflationary pressures.

Over the years, SumsureIQ research findings have been published as part of the SumsureIQ’s Quarterly Brand/Manufacturer Performance Tracking Index.

The research findings show that in 2024, FMCG volume sales grew by about three per cent compared to 2023. This increase was mainly driven by food, which accounted for about 42 per cent of the rise. This was followed by non-alcoholic beverages, which accounted for about 34 per cent of the increase, alcoholic beverages, which accounted for 17 per cent, and non-food, which accounted for just seven per cent of the increase.

In terms of value, FMCG sales went up by about seven per cent in 2024 compared to 2023.

The main driver of this increase was food, with about 54 per cent in value increase, followed by non-alcoholic beverages, with about 29 per cent of the rise. Then, alcoholic beverages, with 16 per cent, and non-food, with just one per cent.

These results are further corroborating evidence with previous SumsureIQ research results, that the average living standard of the Ghanaian consumer declined in 2024 compared to 2023 as more monies were spent on food but actually, fewer volumes were consumed compared to the other FMCG products with little of the hard-earned disposable incomes left to spend on other life necessities.

These results indicate that, although inflation levels are dropping comparatively in 2024, they are still high and increasing steadily. On average, the impacts of the cost of living pressures did not ease or reduce in 2024 compared to 2023.

However, according to SumsureIQ, the volume of consumption in 2024 increased or improved compared to 2023.

This improvement is good news for all Ghanaian consumers. It shows a potential turning point in the country’s average living standard deterioration, which has been induced by relatively high levels of inflation, the accompanying cost-of-living crisis, and the struggling cedi against other foreign currencies.

One of the key trends highlighted in this research and previous SumsureIQ research findings is the shift in consumer behaviour towards the spending on and consumption of food and other essential for life categories.

The SumsureIQ research finds that consumers are purchasing progressively more quantities of items in the medium pack size range on average. 

These items, in most cases, have a lower average price per standard base weight and are affordable. Additionally, consumers see them as better value-for-money propositions.

This shift suggests that while high levels of inflation and the consequential cost of living crises have caused a reduction in the average standard of living, the rate of inflation is now fairly stable with minimal fluctuation, hence, consumers make more calculated purchasing decisions.

Further SumsureIQ research findings show that in 2024 compared to 2023, consumption of Food categories increased by about 2.4 per cent in volume and seven per cent in value.

Some food categories that contributed to this growth were Edible oil, Food Seasoning/Taste Enhancers, Tomato Mix, Milk, Pasta, Biscuits, and Yoghurt. The research also noted increases in the consumption of non-alcoholic beverage categories by about 3.9 per cent in volume and nine per cent in value in 2024 compared to 2023.

The categories driving this growth were water, powdered beverages, tea, plant-based and milk. Likewise, there were increases in the consumption of non-food, and alcoholic beverages categories in 2024 compared to 2023. According to Dr Erasmus L Owusu, the Founder and CEO of SumsureIQ, “the latest research findings proffer a detailed view of the potential of Ghana’s FMCG markets recovering within the recovery of the Ghanaian economy as a whole.

However, these recent improvements remain tenuous and are susceptible to global economic shocks and exchange rate fluctuations”.

Data Collection

SumsureIQ is a full market and economic research agency and consultancy based in Ghana. We collect over 100,000 lines of data each month on over 70 categories and segments of Fast-Moving Consumer Goods (FMCG) in Food, Non-Food, Alcoholic and Non-Alcoholic Beverages across all 16 administrative regions and 10 channels/store types, including Modern Trade and Petrol Marts in Ghana. SumsureIQ uses robust statistical and econometric methodologies to estimate the market sizes of each category/ manufacturer/brand. It also estimates a myriad of analytical KPIs.

This data shows that SumsureIQ has a complete view of the FMCG retail market structure, volume of consumer consumption and consumer behaviour in Ghana. — Credit- SumsureIQ

SumsureIQ’s BRAND PERFORMANCE TRACKING INDEX – 8th Issue

The most complete view of the FMCG market and consumer behaviour in Ghana. Consumers in Ghana spent between GHS 208.1 Billions (US$ 14.3 Billions) and GHS 251.8 Billions (US$ 17.3
Billions) on Fast-Moving Consumer Goods (FMCG) from January to December 2024. Of this amount, Food accounts for 59%, Non-Alcoholic Beverage, 15%, Alcoholic Beverage, 13% and
Non-Food, 13%. These figures are about 7% increase and -20% decrease in GHS and in USD terms respectively compared to 2023.

30 Manufacturers/Suppliers accounted for over 75% of all the January to December 2024 FMCG consumer value sales in Ghana. Is your company/brand
one of them? Are your brands in the consumers’ shopping basket in this tough economic landscape? Do you want to know more about your brands and
categories performance and that of your competition?

In this cost-of-living crises in Ghana, if you want to know more about your brands, manufacturers/suppliers, and Categories performance, reach out to SumsureIQ and see how
we can assist you to move your brands up and into the Consumers basket list. Contact us on WhatsApp or call on 00 233 201 269 824 or 00 233 501 490 170 or email to:
info@sumsureiq.com Or visit our website at www.sumsureiq.com

The most complete view of the FMCG market and consumer behaviour in Ghana.

Consumers in Ghana spent between GHS 147.5 Billions (US$ 10.2 Billions) and GHS 178.4 Billions (US$ 12.3 Billions) on Fast-Moving Consumer Goods (FMCG) from January to September 2024. Of this amount, Food accounts for 59%, Non-Alcoholic Beverage, 14%, Alcoholic Beverage, 13% and Non-Food, 14%.

30 Manufacturers/Suppliers accounted for over 75% of all the January to September 2024 FMCG consumer value sales in Ghana. Is your company/brand one of them? Are your brands in the consumers’ shopping basket in this tough economic landscape? Do you want to know more about your brands and categories performance and that of your competition?

In this cost of living crises in Ghana, if you want to know more about your brands, manufacturers/suppliers, and Categories performance, reach out to SumsureIQ and see how we can assist you to move your brands up and into the Consumers basket list. Contact us on WhatsApp or call on +233 201 269 824 or +233 501 490 170 or email to: info@sumsureiq.com Or visit our website at www.sumsureiq.com

Dr Erasmus L Owusu, PhD. , Bright Alorwoyie, JOSHUA NARGEH, CA, @WinnifredAsante Cordelia Owusu

Why Companies Should Rely on Market Research Companies to Efficiently Drive Growth and Success

In today’s competitive business environment, understanding the market landscape is crucial for success. Companies need insights into consumer behavior, industry trends, competitor strategies, and emerging opportunities to make informed decisions. One of the most effective ways to gain these insights is through the expertise of market research companies in Ghana. These specialized firms offer invaluable data and analysis that can help businesses make strategic choices that drive growth and efficiency.

In this article, we will explore why companies should rely on market research companies to maximize their potential and stay ahead of the competition.

  1. Data-Driven Decision Making

Market research companies provide data that enables businesses to make informed decisions. This data-driven approach helps in understanding consumer preferences, market demand, pricing strategies, and more. By relying on accurate and detailed market research, businesses in Ghana can minimize the risks associated with decision-making and focus on strategies that are likely to yield positive outcomes.

A good market research company provides insights that are grounded in real-world data, which helps companies avoid costly mistakes. Instead of relying on guesswork, businesses can use reliable data to validate their ideas and strategies.

  1. Cost-Effective Solutions

Hiring a full-time research team can be expensive for most businesses. Outsourcing to market research companies in Ghana provides a cost-effective alternative. These companies have the tools, resources, and expertise to conduct research at a fraction of the cost of setting up an in-house team. Furthermore, they have access to industry-specific databases, consumer panels, and advanced analytics that would otherwise be too costly for individual businesses to obtain.

  1. Expert Analysis and Insights

Market research companies are staffed with experts who specialize in collecting, analyzing, and interpreting market data. These experts have a deep understanding of the local market dynamics in Ghana, as well as global trends that may impact businesses operating in the country. By leveraging their expertise, companies can gain insights that go beyond the surface level, uncovering opportunities and potential risks that may not be immediately apparent.

Moreover, the expertise of market research companies ensures that the data gathered is not only accurate but also relevant and actionable. These companies employ methodologies that guarantee the reliability of their findings, ensuring businesses can confidently act on the insights provided.

  1. Competitive Advantage

In Ghana’s fast-evolving business landscape, staying ahead of the competition is essential for long-term success. Market research companies provide businesses with detailed reports on competitor strategies, market share, and performance metrics. This competitive intelligence helps companies benchmark their performance against competitors and identify gaps in the market that they can exploit.

Additionally, by understanding what competitors are doing and how consumers are responding, businesses can fine-tune their marketing and product strategies to outmaneuver rivals. This competitive edge is critical in industries where consumer preferences and market dynamics shift rapidly.

  1. Identifying Market Opportunities

Whether it’s launching a new product, expanding into a new market, or exploring new business models, market research is essential for identifying and capitalizing on market opportunities. Market research companies in Ghana provide detailed analysis of potential markets, target audiences, and demand forecasts, ensuring businesses make the right moves at the right time.

This insight is especially important in a diverse market like Ghana, where consumer preferences and purchasing power can vary greatly between regions. A thorough understanding of these nuances helps businesses tailor their offerings and marketing strategies to specific demographics, increasing the likelihood of success.

  1. Customer Satisfaction and Feedback

Customer satisfaction is a key driver of business success, and market research companies offer solutions to measure and enhance customer satisfaction. Through surveys, focus groups, and other research techniques, these companies gather feedback from customers about their experiences with products or services. This feedback helps businesses understand areas where they are excelling and areas that need improvement.

By consistently monitoring customer satisfaction, businesses can improve their offerings, build stronger relationships with customers, and ultimately foster loyalty. Market research companies also help businesses track customer feedback over time, enabling them to respond to changing needs and preferences.

  1. Risk Mitigation

Investing in new ventures or launching new products always involves some level of risk. However, with proper market research, businesses can mitigate these risks. Marketing research companies in Ghana conduct feasibility studies, market assessments, and risk analyses that provide businesses with a clearer picture of potential pitfalls.

This foresight enables companies to make adjustments to their strategies before launching a new product or service. It also helps businesses allocate resources more efficiently, ensuring that investments are made in areas that promise the highest returns.

  1. Local Market Expertise

For foreign businesses looking to enter the Ghanaian market, relying on market research companies in Ghana is essential. These companies have a deep understanding of local market conditions, regulations, and consumer behavior. This local expertise can help foreign businesses navigate the complexities of operating in a new market and avoid costly mistakes.

Additionally, market research companies provide insights into cultural preferences, enabling businesses to tailor their products and marketing efforts to resonate with local consumers. Understanding the unique characteristics of the Ghanaian market is crucial for success, and local market research companies are the best resource for this knowledge.

  1. Adapting to Market Changes

Markets are constantly evolving, influenced by factors such as economic conditions, technological advancements, and consumer behavior. Market research companies help businesses stay up to date with these changes, providing them with the information they need to adapt their strategies accordingly.

For example, if there’s a sudden shift in consumer preferences due to emerging technologies or economic changes, a market research company can provide businesses with timely insights, enabling them to adjust their products or services to meet the new demands.

Conclusion

In a world where data drives decision-making, the importance of market research cannot be overstated. Market research companies in Ghana offer businesses a wealth of insights that help them navigate the complexities of their respective industries. From data-driven decisions to competitive advantages, cost-effective solutions, and local market expertise, these companies are an invaluable resource for businesses looking to succeed in today’s competitive landscape.

By relying on the expertise of market research companies, businesses can efficiently identify opportunities, mitigate risks, and position themselves for long-term success. For any company operating in or looking to enter the Ghanaian market, partnering with a reputable market research firm is a smart and strategic investment.

Get in touch with SumsureIQ for all your marketing research needs

Cost-of-living crisis: High inflation and impact on the standard of living

Cost-of-living crisis: High inflation and impact on the standard of living

Research by a Ghanaian market research company, SumsureIQ, indicates that the standard living for the average Ghanaian consumer has declined by 8%.

The post COVID pandemic period has seen myriads of economic challenges facing the ordinary consumer across the globe and notably in Ghana where the economic landscape is
characterised by historic high levels of inflation coupled with cost-of-living crisis. Inflation, cost of living and standard of living are interrelated and connected.

Whilst the cost of living is subjective and can be on individual basis, the average cost of living can be measured (e.g. monthly, half-yearly or yearly) for a group of people, especially in the same geographical area.

Ultimately, cost of living is a personal finance concept that measures how much in the local currency an individual or a household living costs are. Inflation on the other hand, is universal and is tied to a specific country.

It measures how the average prices of goods and services changes for everyone with time.

This means that high levels of inflation could lead to costs of living crisis for most consumers, although this is not a direct relationship as inflation affects each individual and group of people differently.

Prices of such vegetables on the market consistently go up

When prices rise for goods and services, high levels of inflation always push up someone’s costs of living. This means that when prices rise for selective or elective spending (like spending on automobiles, washing machines, fridges/freezers, holidays and hobbies), people will often balance their lifestyle choices with cost-cutting actions.

In the end, consumers will always adjust to rising cost of living and hence, reducing their standard of living, if there are no equivalent or simultaneous increases in the purchasing power of their incomes.

In essence, a monthly living wage is a reasonable measure of cost of living. A monthly living wage is the average level of wage required by a person in a country to be able to afford a basic but decent living standard every month.

In Ghana, the average level of living wage in Urban and Peri-Urban areas was estimated to be GHS 2,922 in 2023 by Global Living Wage Coalition (https://www.globallivingwage.org/countries/ghana/).

This was worth about US$ 266 of goods and services in 2023. Economists at SumsureIQ estimate that, the average monthly living wage in the first half of 2024 to be about GHS 3,682.

This equates to an average increase of about 26% on the 2023 level. However, it is now worth US$ 245 of goods and services. Due to the fact that the economy of Ghana is import dependent, this may suggest a decline in the average Ghanaian living standard by about 8% in January to June 2024 compared with the same period in 2023.

Basically, what this means is that, if in the first half of 2023, the average consumer could buy 100 units of consumable goods and services in order to have a reasonable and decent living standard, in the first half of 2024, they could only buy 92 units of such goods and services.

Consumers’ standard of living is mainly due to a combination of the high levels of inflation and the fast depreciating Ghanaian Cedi vis-a-vis the major foreign currencies like the US dollar and compounded by the fact that, the Ghanaian economy is highly import dependant.

Using household consumption expenditure of FMCG per an adult as a measure of living standards

They found, that consumption of FMCG is generally flat with categories like Rice, Edible Oil, Food Seasoning, Ice Cream, Noodles and Pasta declining. This may suggest that Ghanaian consumers are reducing the quantity and volume of food they consume, even though food accounts for an increasing proportion of their FMCG consumption.

On the other hand, the SumsureIQ team, noticed that Ghanaian consumers are increasing the consumption Non-Alcoholic Beverages like Bottled Water, Powdered Beverage and Tea.
However, they are decreasing the consumption of Soft Drink Beverage, Energy Drinks and Fruit Juice.

This may suggest that consumers are substituting expensive categories with less expensive and essential for life categories as part of the adaptation process.

According to the Founder and the CEO of SumsureIQ, Dr Erasmus L Owusu, “even though in Ghana, FMCG accounts for over 50% of the average consumer’s basket of goods and services, household consumption expenditure of FMCG is an excellent indicator or measure of standard of living.

Furthermore, due to high levels of inflation, across board, it is most likely that less quantities will be consumed of other goods and services like Recreation,

Sport, Culture, Clothing and Footwear, Information and Communication Services and Insurance and Financial Services compounding and accelerating the decline in overall standard of living of the average Ghanaians consumer”.

Source: SumsureIQ (www.sumsureiq.com) is a full market research agency and consultancy based in Ghana and we collect over 100,000 lines of data each month on over 70 categories and segments of Fast-Moving Consumer Goods (FMCG) in Food, Non-Food, Alcoholic and Non- Alcoholic Beverages across all the 16 administrative regions and 10 channels/store-types in Ghana.

This amount of data shows that SumsureIQ has the complete view of the FMCG retail market structure, volume of consumer consumption and consumer behaviour in Ghana.