• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Positive outlook for mass grocery retail in Ghana as household spending increases

3 years ago
in Business, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
98
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Positive outlook for mass grocery retail in Ghana as household spending increases

Household spending in Ghana is projected to grow by 4.7% in 2022, in line with an expected increase in GDP to 4.9%. This presents a positive outlook for mass grocery retail in the West African country, according to Fitch Solutions.

Basically, the projected increase in household spending means that more Ghanaian households will have more disposable incomes to purchase food, drinks and other consumables. And a lot of these items will most likely be purchased at formal grocery shops, as Ghanaians look out for shopping incentives.

In the meantime, the report pointed out that the projected increase in household spending will be threatened by Ghana’s ‘stubbornly high’ inflation rate. Seeing as the country’s inflation rate is forecast at 8.7% per annum over the medium term, households might still need to prioritise their spending.

Read: Russia cuts policy rate to 14%

“Looking ahead, we forecast disposable income growth to remain positive over the medium term, expanding by an annual average of 8.3% a year, reaching GHS44,697 (USD6,695) in 2025. However, we do note that the inflation rate in the country is stubbornly high, impacting the real gains in disposable incomes. At a forecasted average annual inflation rate at 8.7% over the medium term, match nominal income growth, households in Ghana will remain price sensitive and will continue to prioritise essential spending categories over this period.

“With food and non-alcoholic drinks being the largest portion of household budgets, we believe there is potential for the consumer to shift into formal MGR, looking for deals and the lower prices that supermarkets will offer to lure in consumers,” said a part of the report by Fitch Solutions.

RelatedPosts

Top 10 African Countries With the Strongest Currencies in August 2025

How Crypto Engagement is Finding a Place in Everyday African Life

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

As it is the case in many countries in Sub Saharan Africa, large portions of household spending in Ghana go towards the purchase of food and drinks. And in line with the country’s growing urban population, there has been increasing patronage of mass grocery retail outlets in the country.

Fitch Solutions expects this trend to continue over the coming years. And this will present a positive outlook for malls and supermarkets in the West African country.

Tags: Fitch Solutions.grocery retailhousehold spendingPositive outlook for mass grocery retail in Ghana as household spending increases
No Result
View All Result

Highlights

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

CHAN 2024: Senegal Edges Sudan on Penalties to Claim Third Place

Lands Minister Initiates Repeal of L.I. 2462 to Protect Reserves and Combat Galamsey

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

Trending

Business

Top 10 African Countries With the Strongest Currencies in August 2025

August 30, 2025

Top 10 African Countries With the Strongest Currencies in August 2025 In an interconnected world where economies...

How Crypto Engagement is Finding a Place in Everyday African Life

August 30, 2025

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

August 30, 2025

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

August 30, 2025

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

August 30, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.