Data from Maverick Research, a leading retail audit firm in West Africa, has revealed a 2% growth in sales volumes and a robust 18% rise in value in Ghana during the Christmas period compared to the same period last year.

According to the report, the food segment emerged as the star performer, buoyed by its essential nature and strong pricing power.

“The food category has shown remarkable resilience,” said Ato Micah, Managing Principal at Maverick Research.

“Even as households grapple with inflation fatigue, food remains the bedrock of consumer spending”, he added.

In contrast, non-essential categories such as household and personal care products (HPC) and non-alcoholic beverages contractions. This was attributed to reduced discretionary spending, as consumers focused on necessities during the festive season.

Analysts noted that while inflation has been a driving force behind the value gains, the modest volume uptick suggests a gradual stabilisation of demand.

Water: A Steady Performer
One bright spot, the report, revealed was the water segment, which recorded consistent growth.

“Water sales highlight the unwavering demand for necessities, even during economic downturns,” Mr. Micah pointed out.

While the sector’s 2024 performance underscores lingering economic challenges, there is optimism on the horizon.

“We expect inflationary pressures to ease in 2025, creating a more favorable environment for discretionary categories to recover,” Mr. Micah noted.

Maverick Research is a leading provider of retail audit and custom research solutions across West Africa, delivering actionable insights that drive business success in dynamic markets.

Maverick Research’s operations span four key markets in West Africa: Ghana, Cameroon, Côte d’Ivoire and Senegal.  Maverick monitors over 60 product categories and 15,000 SKUs, providing granular insights into market performance, pricing trends, and distribution dynamics.