The recent economical recession in Nigeria has made many people resort to buying foodstuffs and other essential needs in smaller quantities. Lately, prices have hiked and it has become increasingly difficult for low-income earners to afford the cost of making their purchases at malls and supermarkets.
However, retail shopping is made possible by the presence of small-scale retailers who make such items available in smaller and affordable quantities for those at the lower rung of the economic ladder.
Families that used to buy bags of rice mow resort to buying in bowls. While those that buy cartons of noodles now buy in pieces.
The same goes for daily-need products such as detergents, soap, milk, eggs and soft drinks.
These retailers go as far as offering goods on credit to salary earners and business owners. These set of customers repay later when they receive their salaries and payments. Nevertheless, with faith and positivity, I strongly believe situations will surely improve for people soon.
What's the economic situation at your end? I'll love to know your experiences and opinions.
I appreciate @Dswigle for setting up #MarketFriday community which is a great platform to share knowledge and learn more about business and economic situations in different communities across the world.
