The Nation Newspaper

Category: Shopping

  • Our fears, by traders

    Our fears, by traders

    As work on the Oyingbo Market nears completion, many traders are apprehensive that they may not be able to afford the rent. TAIBAT IDOWU writes.

     

    Gradually, the pouplar Oyingbo market in Lagos Mainland is beginning to wear a new look. The construction of shops in the market started about five years ago in fulfilment of Governor Babatunde Fashola’s plan to stop street trading.

    But the traders are afraid that they may not be able to afford the rent for the shop.

    According to some of them, the rent will be for people who are in the millionaire’s club.

    A petty trader, Mrs. Risikat Kudiri, said: “We are poor but our prayer is that we should have money so that we can also benefit from the work of the state government. We are appealing to the government to consider those of us who are petty traders when the market is ready.”

    Similarly, the fears of Mrs. Badejo Kudirat, another trader is that the shops are not designed to accommodate people like her. She said the government should also consider those who do not have money. “It is not meant for everybody, it is for those that have money and I don’t have the kind of money the government will be asking for. I heard they are going to give the shops out for rent at N1 million. I pray God should provide another place for me to do my business,” she said.

    Mrs. Idiat Lawal, who is also a trader in the market, lamented that the government will give the shops to those who have the millions, adding that petty traders like her are not in the thinking of the government. “We are told the rent for a shop will be N1million each. Is it me that is selling onions, cray fish and okro that will rent a shop for N1 million? I don’t think I am one of the people that the government is targeting. It is a polite way of asking us to go back to our villages,” she said.

    While some traders are still waiting to see which direction the pendulum swings, others have started showing interest in the new shops.

    For some other market women, it is not only the fear of rent they have to contend with but the fact they have to be climbing up and down the stairs which they are not used to.

    According to them, they expected the government to build small shops on the land but were shocked to see storey buildings.

    Mrs. Sherifat Aremu, a trader in the market, said the government promised to build stalls for them initially, but now they are building story buildings. “Is it inside this mighty building that I will be selling my okro, palm oil, grand nut oil, salt and other petty things? How many customers will climb the stairs to patronise me? We are pleading with the government to please build the normal stalls we are used to so that our customers can continue to patronize us.”

    Mrs. Kemi Atanda said Oyingbo market has existed for many decades and it has been associated with the masses. For this reason, the government should let the ‘common people’ pay for the shops instalmentally. “ we learnt it is going to be on the high side, but I think it shouldn’t be”.

    According to one of the contractors working on the site, the state government has not decided on how much it will let out the property to traders. “We have not reached the level of putting monetary value to the shops. What we are doing at the moment is building the shops to standard. I assure you that the state government will be considerate in allocating the shops. The renovation exercise was carried out in the interest of the traders in the first place; therefore, the state government will not heap burden on their necks.

  • ‘Shoppers are crazy about fairly used clothes’

    ‘Shoppers are crazy about fairly used clothes’

    Over the years, new clothes have become expensive. As a result, many workers and other individuals now go to second-hand clothing markets where they source their wears at cheaper prices, thus leading to a boost in the sale of such clothings.

    In the past, second-hand clothes were synonymous with poverty; the energetic and optimistic middle class bought their new ready-made clothes from high brow markets or large retail stores. But, today, the downward twist in the Nigerian economy, since the early 1990s, has led to a practical alteration of spending and consumption trend, especially among the working class.

    The sale of second-hand clothes is now a very lucrative business, as many has deserted boutiques which sell new clothes because of the costs. Second-hand clothes can be sourced from virtually every place in Lagos and other towns.

    According to traders, the business is very profitable and enjoyable. “There is money in Okrika business,” said Mr Francis Okonkwo, who has been in the business for 12 years.

    “I make a lot from it. The business does not require an enormous capital to start; you can start picking from traders that open bales, depending on the start-up capital you have or how much you can deposit; the balance is paid after sales,” he said.

    There are people who cannot do without fairly used clothes, as well as those who would never want to have anything to do with it. It is a matter of choice. However, second hand clothes are more popular with most Nigerians and have continued to boom inspite of the challenges faced by the traders.

    Mr Okonkwo explained that the items are brought into the country from Benin Republic. “We go to Coutonou to buy these items. Usually, Tuesdays and Thursdays are market days in Coutonou. On these days, we are sure of getting new arrivals. There is the first grade Okrika which could pass for new ones, that is why some influential people also patronize us”.

    Another trader, Mrs Nwanfor Kalu said as an okirika trader, the newer and finer your goods are the more money you are going to make, because people prefer to buy those that could pass for new. “You know, in this Okrika business you must understand that Okrika pass Okrika.” He said.

    Second hand items that could be gotten for as low as N200 or N250 now go for N600 to N1000, yet people still go for them as if they are going out of fashion.

    As lucrative as the business is to traders who practice it, importation and sale is a risky one in which you gain all or lose all said Mr Poly Maduka, also an okirika trader. “It is not easy at all getting our market into the country. After buying so much, you have custom officers to contend with. For every stop we make at any checkpoint, we pay huge amounts of money so that our goods will not be seized. At the end of the day, you realize you paid almost as much as you used in buying to get your goods home”. He lamented.

    Second hand clothes have continued to find their ways into the ever-growing bend-down boutiques. According to Okirika traders, these clothes are smuggled into the country through the Nigeria-Benin border.

  • Shopping for a new school term

    Shopping for a new school term

    Pupils are poised to return to school as a new academic session begins soon. It is time for parents and guardians to go shopping. Gone are the days when, perhaps, for economic reasons, pupils returned to school with items used by their older siblings. This is another era. Departmental, online stores and major markets of school items are brimming with shoppers out to get easy bargains and good value for their money.

    With the beginning of a new school term, retailers get busy promoting back-to-school sales and stocking their stores with school items, such as calculators, school uniforms, sandals, lunch boxes and what have you! No doubt, it’s time for serious business for parents, guardians and sellers.

    Major markets and retail stores in Lagos are selling school items in various categories at cheap rates. An example is the Balogun Market on Lagos Island. It was jam-packed at the weekend with women who went to buy school items.

    “Give me a strong item that will last long” was on their lips, despite knowing that they would still need to buy new ones at the start of another term.

    However, buying school items for each new term has become an infectious syndrome among parents today.

    At the market, a woman was seen carrying a ‘Ghana must go’ bag on her head, filled with school items. One would have thought she visited the market to buy and resell school items. She had eight pairs of each item in the bag.

    The shopper, Mrs Afusat Karim, has nine children. Five of them are in secondary school; three in primary school and the last child is yet to be enrolled.

    According to the retailer who sells to her at the start of each term, Mr Agu Alozie: “Mrs Afusat is my very good customer; she places her order on phone at the close of each term and pays money into my account. I do not hesitate to stock her bag as she sometimes buys school supplies worth N85,000 per term. Her children live with her mother outside Lagos, which is why she prefers to buy in bulk to last the whole term and save her mother the rigours of going to the market.”

    As major markets and stores continue to play a vital role in shoppers’ spending decisions, retailers offer good bargains to save money in their stores and on their websites, to attract value-focused back-to-school shoppers.

    Hoping to spread spending, more parents have begun shopping earlier than they did last term. The budget-conscious consumer has not forgotten about price, quality or value; she has become more practical in her shopping; and with school purchases considered a necessity, parents have been saving to be able to fully afford all their children’s needs .

    Parents determine what item their wards need each term. As a result, academic needs seem to be shifting towards products that provide the latest features. In recent times, secondary students consider a laptop a necessity, believing it will lift their grades.

    If only parents buy what is necessary during holidays, it is much cheaper and they won’t be overwhelmed with the prices later. Therefore, they need to go through their bill line by line, for unnecessary add-ons. ‘When’ to buy school items should often be given priority.

    According to a money expert, “the best time to buy school supplies is during the holidays when there will be enough time to do little research and comparison, thereby saving money.”

    The process can be challenging for parents, particularly, the busy ones who are expected to create the environment and materials that provide the necessary items to transform their children’s learning experience.

    “When it comes to children, there’s nothing more important to a parent than making sure they have everything they need, even in a tough economy – and especially when it comes to back-to-school shopping,” said the National Retail Federation President and CEO, Matthew Shay.

    On the other hand, secondary school pupils and their parents are much more likely to look for ways to cut corners as much of their costs come in the form of tuition and living arrangements.

    According to the marketing manager of Jumia online store, Mr Afam Anyika, “we stock a variety of back-to-school items and they are quite affordable. We advise shoppers to check our website and take advantage of these items.”

  • Tips on buying fans

    Fans are simple interior appliances used to create a cooling effect in the summer. In Nigeria, fans are used more during the dry season or when the weather is hot.

    Are you the type who has been worried over the choice of fan? You need not worry again.

    Fans are of three types. There are some meant for the ceiling, and there are the standing ones. The third is the wall fan.

    Brands like O.R.L has various products with different prices. Its Giant 60 costs N4000; Deluxe, N3,500; Max, around N3000; Executive and Zurge go for N3,500; Mega, N4,800; Golden, N3,800. They come in white and brown colours.

    STC also has different products. Its Super goes for N3000; Super Power, N2, 800; and President (N3, 800). SMC has model KL which costs N5, 800; and model KN which stands at N8000. This pair happens to be the oldest. They are from Asia.

    Usher ceiling fan has white and brown colours. The former goes for N6, 800; and the latter, N7000. The Binatone brand has brown, white, cream, and chocolate colours. Each has three or four blades depending on the taste of a potential buyer. The three-blade type costs N3, 500, four blade, N4, 800.

    The standing fan comes in 16 and 18 inches. Standing fans of 16” come in plastic blade, the 18” iron blade. This rule doesn’t apply to certain brands like Fanafrik which produces both inches in iron blades. Fanafrik also has a model for recognition of the inches such as S.O. 6 which is its highest model. It is an 18 inch fan valued at N5, 500. Model S.O.7 16 inch costs N4000. Century produces both inches but makes the former with iron blades put at N4, 800, while the 16 inch made in plastic blade costs N3,300. STC has only 18 inches at N4000. , ditto for Jumyrich but with an additional N500 raise. Astros is also in the same bracket with its price put at N3, 300.

    Like the standing fan, wall fans equally come in 16 and 18 inches, but the latter seems to enjoy more patronage than the former. Century has 16 inches fans which cost N3,600 and N4,500 respectively. Others like TMT, have only the 16 inch valued at TMT N5, 800. Evernal, Occenic, and Super Master have 16 inch each which goes for N3, 500, N3, 000, and N3, 500 respectively.

    For prospective buyers, the aforementioned fans can be obtained from makeshift stalls in areas such as Adebayo Onipanu Bus/stop, Elpina Creek Road, Apapa; Yaya Abatan street, Ijaye Road, Ogba; and Alaba International Market, Ojo;. Other places are: 38, Adedeji Street, Itire, along Ijesha Road; 126/130, Lawanson Road, Itire, Surulere; and 126, Isolo Road, Mushin, among many others.

    Perhaps individual tastes might differ; buyers must take into cognizance certain factors.

    Your ceiling height: Knowing the ceiling height where your new ceiling fan will be installed will determine whether you choose a hugger ceiling fan or the variety with a down rod. National Electric Code (NEC) requires that fan blades should not hang lower than seven feet from the floor. For ceiling heights less than 7’63 , a hugger or a regular ceiling fan with a low ceiling adapter, might be preferable.

    Sloped or angled ceiling: A hugger ceiling fan is not ideal for a slope ceiling. Ceiling fan blades should always be in the horizontal position where gravity finds them, else, the fan motor will incur too much strain and eventually burnt out. A sloped ceiling adapter will enable the ceiling fan to hang from 29 degrees to 52 degrees.

    Determine blade span based on room size: Ceiling fans come in different blade span sizes. Knowing the estimated blade span size will greatly narrow your search when it is time you want the right ceiling fan. Below should give you a good idea of what ceiling fan blade span you will need based on the square footage of your room.

    Square Footage and Room Length x Room Width: 16 – 40 sq. feet = 243 to 323 blade span40 – 75 sq. feet = 343 to 403 blade span; 75 – 100 sq. feet = 403 to 423 blade span; 100 – 140 sq. feet = 423 to 483 blade span, 140 – 200 sq. feet = 483 to 523 blade span.

     

  • Online stores face litmus test

    Online stores face litmus test

    The online  market is big and provides a lot of immense opportunities for shoppers. The market is catching on in Nigeria, but it has a problem – credibility. Many online stores are battling to assure customers of their genuineness, but some doubts still linger. TONIA ‘DIYAN reports

    Online stores deliver people’s needs to them anywhere and any time. They are not new to Mr Olakunle Ibiyemi and his brother, Dotun, who perceive Nigerian online stores differently.

    Ibiyemi thinks online stores abroad are better operated than those in Nigeria. The Nigeria stores, he says, should be well established before he patronises them. But his younger brother, Dotun believes it is wise to encourage and patronise local ideas and efforts. He believes in trying something new, but he is particular about verifying the genuineness of Nigerian online stores first. “How do I know where best to buy from and be sure of getting good value for my money?”

    At times it is difficult to know the authenticity of an online store, but in some cases, they could be identified by how they sell themselves.

    Online store jumia.com has, since its inception, taken the value of its brand to the Nigerian market – online and offline. The quality of website and the constant innovations on users’ experiences have, to an appreciable extent, proved that Nigerian online stores are authentic. And these stores, considering the distrust with making payments online, through issues like online fraud, decided to introduce the payment on delivery method with a seven-day return policy, to show that they are not after money but to provide quality and convenient retail services.

    One of the founders of jumia.com, Mr Rapheal Afaedor said: “We have implemented several initiatives around Corporate Social Responsibility (CSR) through reaching out to the destitute in the society in company of some of our notable friends in entertainment and media. Recently, we hosted a customer-focused group through which we came face to face with a select group of customers, an experience we found quite endearing and one that reminded us we were in the right place. For us, the authenticity of any online store has a lot to do with how close the website connects with its customers, emotionally and physically.”

    Many observers believe Nigerians should be comfortable shopping at local online stores because the market has grown and gained credibility. To them, the local online stores offer unique shopping comfort any where, any time. And to them, shoppers who are still afraid about online fraud could seek sites that have been tried and certified safe. To them too, such shoppers should ask questions and do thorough background checks before spending their resources.

    Speaking on how reliable local stores are, Afaedor said he cannot vouch for others, but that he is sure jumia.com is very reliable, “I like to say our reliability lies in our increasing number of page visits daily; our rise to the fifth local content site in Nigeria (from seventh in November 2012), and our over 400,000 social media community and relocation to a 4,000 square metre warehouse, all achieved in 10 months of operations. For us, efficiency is in numbers, and in our case, the numbers have continually spoken for themselves.”

    Of the 40 million Nigerians who are online, a sizeable amount actually visit these stores, resulting to a rapidly growing trend in visits and purchases.

    Some stores run an operation that cuts across board from purchasing to uploading  content on their website up to marketing the products and delivering to customers, not forgetting their world-class customer service team.

    Nigerian online stores have promised that citizens in their volatile socio-economic environment are rest assured of getting their needs anywhere, anytime and at their best convenience. No long traffic queues to the malls; not finding what is needed per time, but with online shopping, people are sure to see a broad range of products from wherever they are. It becomes yours at the click of a button. Then you can think of all you can do with time saved through buying from online stores.

    Foreign online stores have lots of experience going for them in running such a business model. They are, therefore, better than online stores here and for our local online stores to run such a business model; they have come to see that they can stay competitive with foreign online stores. Last month, Nigeria’s number one online retail store received a certificate from Google that it is ranked higher than amazon.com which had been the highest searched online retail site in Nigeria for a long time.

    Never the less, our online stores learn from the foreign ones the experiences and expertise in growing this business model in Nigeria, “we can’t deny the fact that there are vital lessons to be learnt,” said Afaedor.

    “Hence along with our partners who have vast knowledge in running such business models and expertise we have gathered from across the world we strive to grow an online retail store that will be the solution to retail both online and offline in sub-Saharan Africa.”

    It has been noticed that a target group of individuals who have access to the internet and are in the age range of 18 to 40years shop more on line in Nigeria.

    For those doubting, simply give these stores a trial, you will be convinced. It is also wise to patronise those names that are commonly seen and heard of.

    In order to satisfy customers, a store like Jumia finds specific brands for customers, this is as a result of peculiarities or sentiments towards particular brands through their purchasing team that is in the local and foreign markets closing out deals to represent known brands across the world.

    Presently, in the online space they carry the highest number of individual brands.

    Initially, when the online business was introduced into the country, payment on delivery and payment online were initiated. But over time, customers prefer the payment on delivery method.

    The Nigerian market is still getting used to this method of shopping and is still exploring this new phenomenon. However, online payments are gradually going on the increase particularly amongst returning customers.

    To cancel the belief that buying online is only for the rich and elite, communications and campaigns are constantly carried out across various marketing channels.

    “And to ensure that Nigerians get involved in the trend, aggressive marketing, constant education through various channels (particularly social networks), increased brand awareness and offline activations including offline sales are introduced into the business model.

    “With our online stores, one can track online activities, and be the first to know of amazing deals and bargains as soon as they come up.

    “Merging e-commerce and social networking has never been this good, buying quality products over the internet has never been this easier.”

    Mr Okonkwo Obiora, one of the owners of an upcoming online store Yeside , which focuses on fashion, said: “You must always look for better and reliable stores online; you must also take advantage of promos and discounts. This business requires a lot of research before you venture into it. Once people get used to something, they ignore the risks and see it as part of their daily lives.”

    The perception that only the rich shop online is wrong, with as low as N100, you can buy airtime online at a quick teller. You can also order food online at hello food.

    Through the use of the Internet, shopping for anything you want is easy and convenient. People love shopping online these days. You can get your desired products with few clicks. You need to be a little smart and clever while shopping online because of the huge competition and tempting advertisements which may get you trapped. You can do smart shopping availing the best discounts and deals online.

    The online marketplace is the best way to buy items you want. Items such as fashionable garments, footwear, designer jewelry, grocery items, gifts, books, household products, electronic gadgets and many more. There are huge varieties and collection of products over the one stop shop. Thus, you can make your choice easier and faster. In addition, you can read the review of products which are available at stores.

    Shoppers have a wide range of online stores to choose from: stores like, Yeside is a great online shopping site in Nigeria that focuses on fashion. You can buy shoes, clothing, bags, watches, jeweleries, and all kinds of fashion accessories.

    Buy Right focuses on electronics, inverters, UPS, mobile phones, cameras, camcorders, storage devices, notebooks among others.

    Wahali is an online bookstore, if you want a particular book; enter the name of the book on the website.

    AwoofShop is an online store for assorted products. Their products range from mobile phones, books, clothing, video games, computers, etc.

    African Foods Online Store sells, yam, bitter leaf, Cocoyam flour, Egusi, Garden egg, Ogbono, Palm oil and other food stuffs.

  • Lagos tars Ladipo market road

    In line with its promise, the Lagos State government has begun the construction of Ladipo Auto/Market road, TAIBAT IDOWU reports

    The tussle for the chairmanship of Ladipo market in Mushin, Lagos was said to have led to its closure last month. The present chairman of the centre, Mr Jonathan Okoli reportedly refused to step down after the expiration of his tenure, leading to acrimony. The executive was said to have become split. Okoli was said to have held office for eight years.
    There was plan to hold fresh election in November, last year, but Okoli was said to have disrupted the exercise, leading to its postponement. No new date has been fixed for the election.
    Last month, the market was closed in the heat of the crisis. It is yet to be reopened. But in line with its promise to tar the road leading to the market, Lagos State government has begun the construction.
    Some traders spoke on the development. Mr Uche Ezuma said: “The government has put an end to street trading and if they say they don’t want street trading, it is because they want a stress free shopping environment for traders and shoppers.”
    Mr John Aigbo said he likes the market‘s new look. “One could not move freely within the market before.”
    According to Mr Williams Bakare, one of the displaced street traders, “the government said they sent us away because of the congestion in the market, now most of us have no hope!”
    Mr Chukuka Oyenbalulu , a trader, said the new development is an opportunity for traders who have their shops in plazas situated inside the market to make huge sales, because over the years, street trading has been a barrier to the market as a whole.

  • The fire finished us, say plank merchants

    The fire finished us, say plank merchants

    Two months after it was burnt, traders at Ketu Plank Market are still counting their losses, TAIBAT IDOWU writes.

    TRADERS at the burnt Ketu Plank Market in Lagos are facing hard times. Some of the traders say they have become poor and are now living from hand to month.

    They told The Nation Shopping that many of them have returned to their villages because the “suffering is too much.”

    To alleviate the traders’ suffering, the Ifelodun Plank Market Committee is urging the government to hasten up its plan to rebuild the market.

    Its chairman, Alhaji Aliu Bello said the government had been given the total cost of goods burnt, adding: “we were told to follow some procedures before the government can fulfil promise to renovate the market.”

    The procedures are filling a registration form with their photographs attached; presentation of photographs of lost properties and an estimate of lost properties.

    Alhaji Musa Akinbo, who is also a member of the committee, said after the fire incident, accommodation and financial constraints has been the major problem they are facing. “Traders no longer have places to stay,” he said

    Mr Olagoke Akala, one of the displaced said: “We have become enemies to our families because we can no longer meet their needs the way we used to. Most of us now live in poverty and some of us have returned to the village.”

    “We are hungry, men have suddenly become women in their own houses because they can no longer live up to their responsibilities, those that refuse to become women in their houses, resolved to returning to their villages and others chose street trading as an alternative.

    “People who patronise the market are waiting for the renovation as well. Many of them check to see if the market has come back to life.”

    Mrs Olajumoke Odetoye, a building materials seller, said she believes the crisis will definitely come to an end. She said she used to own a big shop, but she now uses a small table to display her wares because there is no space and money. “We thank God for our lives. Thousands of us are victims of the fire and the market executives are really helping us. They are trying to provide alternatives for us in the little way they can.”

    Mr Saliu Sanusi is an old man who said he has been managing after the fire incident and that he used to buy in bulk, but he now buys in small quantity and the initial capital which he used in starting the business was a loan and till now, he has not been able to pay back. “I used to buy in bulk before but now I have turned to somebody that buys in small quantity. I am now using a small shop and using N10,000 to transact business. I am still on loan, I haven’t paid back. The government should help, so that everything can be balanced.”

    The chairman of the committee, Alhaji Aliu Bello praised the Lagos State government for supporting the market so far and pleaded that promises made to renovate their market be effected as soon as possible.”

  • Odo Eran, meat market

    Odo Eran, meat market

    Located at Itire area of Lagos is Odo Eran market. A market where beefs and cows are majorly sold in pieces, as well as other food stuffs. These cows are slaughtered and sold by the traders every day, thus customers are sure to get fresh meat whenever they get to the market.

    Buying and selling is convenient for customers and traders because they get whatever food they want at a place and also get good bargains. It is one of the peaceful markets at Itire presently.

    Mr. Alade Adeagbo a meat seller said “we are safe here there is no disturbance in this market and we pray not to experience fire like some markets did recently. Everything is going on smoothly and in a day we slaughter more than twenty cows and by God’s grace we sell all before the end of the day” he said.

    Mrs. Bashiru Gbadebo said “everything is in other, we have a union that settles misconception in the market .

    Mrs. Ojugbade Monsurat a customer said “I prefer this market because you won’t walk far before getting all the food stuffs you want. I usually shop here every weekend in bulk. To be sincere, this market is neat despite the fact that they kill cow and do other rough work here, still it is neat, that shows how discipline they are here.” she said.

    Mrs. Imanuel Alaba a customer said “one thing I notice in this market is that there is peace and anywhere peace is , things are successful. The trades are hard working and they cooperate.”

  • The changing taste of shoppers

    The changing taste of shoppers

    As much as Nigerians would go for products with low prices, good quality and new innovations have become their main considerations these days. This trend, it appears, is attributable to convincing sales/promotions, well-stocked shelves and high-quality fresh products available. Therefore, to boost sales as well as encourage shoppers, some retail shops launch attractive sales promos frequently.

    Such actions, it was learnt, have worked for many shops over the years. Mrs Modupe Shopeju, owner of Gbagada, Lagos-based Delightsome Gifts Concepts which has all kinds of home and office gadgets said: “Promotional offers are aimed at attracting more customers and enhance sales. There are misconceptions that when discounts are offered by shops, such shops stock inferior products, that is why they sell at cheap rates just to do away with the so called inferior products. It is not true.”

    While factors relating to good quality, innovations and low prices are important determinants of where to shop and what to buy, retailers and manufacturers who offer good value, either through sales and promotions or via larger-economy packaging, stand to gain the most from hard-income-earning consumers in a tough economy like Nigeria. That is why discount offers from some shops mean a lot to an average shopper.

    Mr Todd Hale of Consumer & Shopper Insights, in a television interview, recently, said: “For the economically challenged, low prices are a must, but convenience may trump low prices for some, while travelling and from discount retailers, it is a challenge.

    “For some shoppers, the value obtained from one-stop shopping can save them time and money. Therefore, manufacturers and retailers need to place a greater focus on shoppers’ benefits to achieve the differences that go beyond prices.”

    Though price is a differentiator in any economy, store brand products, he said, must deliver a level of quality proportionate to their price points.

    “Quality, at an affordable price, is what gets consumers to buy and repeat. If quality and value are lacking, then consumers will buy fewer store brands.”

    People no longer fancy cheap products, they prefer to buy products based on their quality and the benefits such products have to offer. In the market today, there seems to be more new products than the old ones, especially for consumables like canned foods which also comes in sachet leaving the shopper with choices to make.

    When The Nation Shopping went round some of the malls in Ikeja and Surulere, a large number of shoppers indicated they prefer quality and innovation over low price. Some others said they prefer innovation at low prices, and only a few number of them said they prefer very low price not minding the value of the product.

    Majority believe quality is not to be compromised; therefore while manufacturers are producing slightly low quality products, they should not forget to keep prices low as it is the least favoured option among consumers because raising prices is a strategy that consumers do not embrace. Consumers typically maintain reference prices for products based on prices they have seen or paid in the past.

    A shopper, Mr Samuel Emenike prefers quality over low price. “Low price could be deceptive; I am usually not deceived when I want to purchase an item. I make up my mind to go for quality so I can be sure of having value for my money.”

    Another shopper, Mr Chijioke Nwabueze was of the view that good quality and innovation is better than low price if a person wants the best from a product. “The life span of a quality product is longer than a cheap inferior product. You will only be buying what you need at once instead of buying the same thing twice because it is cheap.”

    Some people think the newly introduced products are either not trusted or they simply do not allow for patronage of the existing ones. May be because some people who will prefer to buy the newly introduced ones will want to explore them.

    According to Mrs. Funke Bamgbose, a shop owner at Adeniran Ogunsanya Shopping mall, “Bringing new innovation into the market sometimes does not allow the sale of old products. But if the newly introduced product is of a higher price than the already existing ones, then I am sure of selling my existing products. Therefore, new innovations should be accompanied by low price, as it is generally known that low price is the driver of any shopper,” she said

    Mrs Nsofor Chinwe prefers existing products. To her, existing products are better trusted “I have come to trust existing products over the years. I can only be lured to buying newly introduced products if I can get a testimony from someone else about that product. Most times when I go shopping, I don’t check out new products, I simply pick the old names I am used to.

    Some shoppers are of the view that new innovations of products should be given a discount instead of adding price. So that people can be used to it or that they can be used to create a platform of introducing it to people.

    According to a shopper Mr Stanley Omokaro, discount offers should be attached to innovations so that shoppers can easily accept them when they are newly introduced into the market. “ It is only common with shoppers to want to buy new products at cheap rates. Some people would refuse to pay more or same amount as for an existing product for a newly introduced product.”

    Mr Odundayo Agboola is an economist; he prefers innovation to low price stating that the country’s poor economic condition is a major challenge to innovations. “My question is, will these innovations stay? Is our economy encouraging such? Modernism has been brought into production and now we get newly introduced good items. I am of the belief that the newer a product, the better it is. Sometimes I get tired of the old product because some of them have reduced in quality and quantity. Therefore, I look forward to new products from time to time,” he said.

  • Hit by hard times

    Isopako , a market that stock mainly plank and building materials had some of the traders speak with The Nation shopping blaming the low sale situation in the market on the poor state of the country’s economy. A trader Mr Babajide Owolabi is a nail seller, he said, “we are only here because we want to leave our homes in the morning and go to our places of work, we are actually not making sales. This democracy is not for everybody it is only meant for the rich people. People are not building houses any more, they are only renovating because of the economic situation we are presently facing in this country.”

    Mrs. Adejoke Shuaibu is a paint seller who thanked God for the peaceful state of the market. Though we are not making sales as at now, we only come here so that we will have something to eat at the end of the day, no matter how little, market is not really moving.” She said.

    The market which stocks mainly building materials, such as Planks, Pans, Nails, Wire, top-board, Pecks, and Flatmetals also have them in various prices, names, quality and functions.

    The planks have names like; Otara, Maoganic, Iroko, Akala, Mazonia, Ipin, Poroporo, Omosida, Ita, Sanmi, Osara, Obeche, and many more. They all come in different prices, depending on their measurement. For Otara wood its measurement are 1x12by 12 and it cost N1, 300; 2x2by 12 cost N300; 2x3by 12 cost N4, 50; 2×12 by12 cost N1, 800 . Iroko wood has 1×12 by 12 cost N1, 500; 2×12 by 12 cost N2, 200. Mahogany 1×12 by 12 costs N2, 100; 2 by 7 feet cost N1, 500; 2×2 by 12 costs N3, 200.

    Ipin, Obeche, Otako, and Omosida have the same price range depending on the inches 1×12 by 12 costs 1,100; 2×12 by 12 costs N1, 500; 3×8 by 12 cost N1, 600. The cheapest are Sanmi, and Arere with sizes like 1×12 by 12 costs N900; 2x12by 12 costs N1, 300; 2x3by 12 costs N300.

    Plywood has different sizes and prices with two types, the imported and local ones. For the imported type 1\8 inches cost N300; ½ cost N1, 500; half inch cost N2, 900; and 3/ 4 costs N4, 500. For the local one 1/ 8 cost N250; 1 /2 cost N1, 400; half inch cost N2,800; and 3 / 4 cost N4,400.

    Pans, peck and flat metals are bought by bundles and piece. Bundles of pans cost N10, 000 containing 20piece; a piece cost N500. Flat metals cost N2,000 per bundle.

    The market also stock paints of various colours, types and prices. We have Kaklus, Fine Coats, Jolak, Radiant, Daplux , and Soliguard. These paints, apart from Care and Soliguard which are the more expensive ones because they are imported and only come in glossy and packed in 4 litre. The rest of the paints have three variations such as emulsion, texcoat, and gloss mix. All these have their different prices. 20 litres of any brand of paint that is glossy cost N2, 500: Texcoat cost N4,000: Emulsion cost N2, 600. Four litres of glossy cost N500: Texcoat cost N1,000: Emulsion cost N500, 1 litre its cost N300.Paint comes in three packs which are in 20, 4, and 1 litre. The amount of litres to purchase should depend on the individual who is buying.

    Paint has different colours but has some special ones which are deep colours and more expensive, they come in 4 litre packs and sold for N3,100. They are orange, purple, silver and gold.

    Prices of nails vary too, they come in two bags, the 50kg which cost N5,000, and 25kg which cost N2, 500. For those who want to buy small quantity, N100 worth is available.

    Top-Board costs N70 for 200gm, N1, 500 goes for 250gm, 500kg is sold for N250, 1kg cost N400, 2kg cost N700, and 5kg cost N1, 200. All the aforementioned can be found at the Isopako plank market.