A new academic session closes in, but the boom time for retailers in educational products is waning. Faced with economic hardship, parents have become wiser in shopping, devising new means to meet school needs, writes TONIA ‘DIYAN.
The frenzy of school resumption is gradually reaching its peak. While students and pupils are obviously excited about returning to school after the long summer break, the same cannot be said of their parents and guardians, no thanks to the harsh economy prevailing in the country.
Barely a week to resumption, many parents are still grappling with payment of school fees- a situation that has been further compounded with the increase in tuition charged by schools. Findings has shown that most schools have effected a minimum of 50 per cent increase in fees, which has not gone down well with parents and guardians. More worrisome, however, is the cost of buying books, stationery, sandals, and other school items for returning students and pupils.
It is at times like this that retailers in educational materials make huge sales and smile to the bank. They usually get busy promoting back-to-school sales and stocking their stores and stalls with a variety of school items. No doubt, it used to be time for serious business for parents, guardians and sellers.
But for economic reasons, this year, most parents have decided that their wards return to school with items used by their older siblings even if they have to be repaired, because they cannot afford to buy new ones. This is because new items have become more expensive than they used to be, and also of lower quality unlike those sold in the past.
According to traders of back to school items at the market, this situation is taking a toll on their businesses, making traders return home with their items daily because of low or no patronage. For instance, because of high prices and low income, Mrs. Folashade Adebowale, had planned to buy a lunch bag and backpack for her daughter’s school resumption. But she instead settled for just one of the two items, hoping that her child will make use of an old one passed to her by her older sibling.
“Give me a strong one that will last long. I can’t afford to buy an inferior item for twice the price of one which is of a superior quality and then return to buy another one when a new term begins. I cannot afford it at this time when everyone knows how hard things are,” she lamented.
Back to school traders told The Nation Shopping that sales were usually high in September when school children start a new session. According to them, there is always a high turnover for them at this period because parents will need to get new books, sandals, shoes, socks, uniforms, backpacks, and other items to replace the old ones. But it is not so this year.
Mr Agu Alozie, who sells back-to-school items at Idumota market on Lagos mainland, testified to the low sales being experienced at the moment. Prior to this period, he explained, his customers used to place orders on phone at the close of each term and pay into his account. “Some people would buy school supplies worth more than N85,000 for two kids; but things have gone from bad to worse now and I can hardly make N10,000 from two customers in one week,” he said.
Another trader in the market, Mr Uche Ndubuisi, who sells school bags, complained of low sales, saying the items are expensive, leaving him with nothing to take home after selling. According to him, manufacturers of school supplies produce more in September than in other months, expecting more demands from buyers.
“I’ve not sold anything today because customers are refusing to buy. They walk away when the prices of items do not favour them. I usually look forward to September when I used to make brisk sales because it is the beginning of another session, when wards and their parents will want to buy new items. But this year, it is not so, which is a sign of the time,” he said.
Similarly, Madam Wuraola, who sells wholesale school rubber sandals at the Ojuwoye market, Mushin, Lagos explained that sales usually picked up this month when there is downpour because many parents go for rubber sandals instead of the leather ones. Sadly, she said, this year has not been the same as people are complaining bitterly about lack of money.
But while there is a lull in the sale of school items, some items such as stationery are not affected. The proprietor of Emmy Bookshop, Mushin, Mr. Emmanuel Umechukwu, attested to this saying that the only “Back-to-School” items that are in high demand now are stationery, adding that they do not yield much income.
He said textbooks are expensive directly from the manufacturers. “A textbook that we used to buy at the rate of N650 is now N730, meaning we would not be making profit, not even the N30 gain we used to make. So it is not profitable buying or stocking such items,” he said.
As major markets and stores are faced with the challenge of sales at this period, the gimmick now being deployed is the offer of good bargains which can lead to some sort of savings for parents. Yet, the shoppers have not responded to such offers because they are also cash strapped- a reflection of the economy.
As a way out, some smart parents explained that they had started shopping for their wards’ educational needs a long time. This way, they maintained, they have been able to escape the hyperinflationary rate that has ravaged the economy, which eroded their purchasing power.
It is believed that parents who buy school items during holidays tend to get much cheaper items and they won’t be overwhelmed with the prices later. But this principle have failed to apply this year.
And with school purchases considered a necessity, parents have been saving to be able to partly afford most of their children’s needs, since they cannot afford all.
