‘Foes’ Sellers Announce Reduction of Prices By 30%

By Riddy10 2 Min Read

The Used Clothing Dealers Association claims to have lowered the cost of its goods by 30%.

That, it claimed, came when the Ghana cedi strengthened against the dollar, bringing down the price of duties at the port.

John Obiri-Yeboah, the association’s public relations officer, made this statement during a news conference on Tuesday in Accra (December 20, 2022).

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He said that the association’s executive made the decision to lower the prices after consulting with the members.

Because of the reduction in the value of the dollar, he persuaded the members to follow the decision because doing so would allow them to increase sales and import more apparel.

‘Foes’ Sellers Announce Reduction of Prices By 30%

Mr. Yeboah, iterated that those who did not lower their rates in response to others’ price reductions would suffer since those who did so would draw more customers, boosting their sales and earnings.

In light of this, he recognized the efforts made by the Ghanaian government and the Bank of Ghana to maintain the Cedi’s value in the face of inflation challenges.

“We send our regards and encourage the government to continue to implement measures that will help the appreciation of the Cedi and bring relief into the business communities in Ghana.

“In view of the current positive change in the value of the Cedi, we have reduced prices of the second-hand clothing goods by 30% to our customers to facilitate easy buying and selling,” he emphasized.

Moreover, he went ahead to iterate that, “We, therefore, appeal to the public and members in the sector of second-hand clothing business, to adjust their prices accordingly for consumers to have a positive feel of the trend”.

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Conclusion

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