Press release
Ghana Retail Industry Market Analysis, Size, Share, Growth and Report 2023-2030
Ghana Retail Industry Market - DataM Intelligence
The Ghana Retail Industry Market is expected to grow at a CAGR of 14.6% during the forecast period (2023-2030).
Retail enterprise is basically responsible for the distribution of completed products to the general public. The retail area accommodates of wellknown shops, departmental stores, forte shops and bargain shops, Ghana presents extensive possibilities in meals retail business thanks to speedy growing urbanization, rising family incomes and exchange in way of life & eating habits.
Ghana's retail industry is especially superior in comparison with different African nations. The open marketplace is still a dominating retail industry in Ghana. The key providers supplying carrier in Ghana retail industry consists of Finatrade Group, Melcom Ltd, Forewin Ghana Ltd, Hippo Group and many others.
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Market Dynamics
Increasing disposable profits through the groups and developing urbanization across the country is the number one factor riding the Ghana retail enterprise marketplace for the duration of forecast period. The growing disposable earnings of the people in Ghana, will boom the buying energy of humans for patron goods. According to the World Bank, in 2017, the household final consumption expenditure has grown by means of 7.3% in Ghana.
Also, increasing urbanization is one of the elements driving the Ghana retail enterprise market In 2019, Ghana has an anticipated population of 30.10 million, which ranks forty eighth inside the international. The populace has been increased from 2010 census figure of 24.2 million. Ghana's populace is currently developing at a rate of two% in line with year.
However, higher value of freight fees as examine to different international locations in this location is one of the foremost factors hindering the Ghana retail market.
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Market Segmentation
By Product Type
• Apparel
• Consumer Electronics
• Fast Moving Consumer Goods (FMCG)
By Store Product Type
• Convenience Store
• Discount Store
• Internet Retailing
• Supermarkets
Market Key Players
Major players are Melcom Group, Unilever Ghana Limited, Palace Shopping Mall Limited, Shoprite Achimota Mall, Walmart Inc, Electroland Ghana Limited, Amazon.com Inc, eBay Inc and A&C Mall.
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