Amid Rising Prices, Nigerians Flock to Discounted Products

As inflation continues to bite, Nigerians are increasingly turning to promotional sales and discounted products to stretch household budgets, checks by The Daily Times reveal.

End-of-year promotions, price cuts, and “up to 80 per cent off” deals are no longer mere marketing tactics but essential survival strategies for millions of consumers facing rising prices of staples and consumer goods.

Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Mr Tunji Bello, stressed that all sales promotions must be registered and monitored to ensure transparency and fairness.

“Sales promotions should offer real value, not deception. When companies follow the rules, everyone benefits, from corporations to the average consumer,” he said.

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Across Lagos, shoppers are cautiously navigating deals. Maryam Yusuf, a mother of three, said she checks prices before buying discounted items, noting, “Some shops inflate prices before promo week. Still, if you’re smart, you can really save.”

Similarly, a bus driver in Ikeja credited telecom promos for helping him meet urgent expenses.

Marketing experts note that promotions now serve as a “parallel relief system” for households, with online retailers like Konga and Jumia stretching promo periods across weeks to offer meaningful savings.

Marketing Strategist at Marketing Edge, Anietie Udoh, emphasised that licensed and transparent promotions prevent exploitation, disguised gambling, and fraud.

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Small businesses also benefit. The Association of Small Business Owners of Nigeria (ASBON) highlighted that promotional campaigns accelerate digital inclusion, boost brand visibility, increase sales volumes, and empower SMEs to grow sustainably.

However, policy analysts caution that excessive promos can encourage panic buying and gambling-like behaviour, urging firms to make products more affordable for low- and middle-income earners.

With price pressures showing no immediate respite, Nigerians are learning to leverage promotional sales as both a financial cushion and a consumer right, navigating the fine line between bargain hunting and regulatory compliance.