FoodCo Nigeria, a leading retail chain, has called on modern retail businesses to prioritise consumer support during the current economic downturn.
The company emphasised the need for retailers to adopt strategies beyond profit-making by offering solutions that help customers manage the rising cost of living.
This call comes as Nigerian households continue to grapple with inflation and other economic pressures, which have significantly affected purchasing power.
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Funmi Aiyepeku, Head of Innovation, Growth, and Business Transformation of FoodCo Nigeria, who was speaking during the launch of FoodCo’s 2024 Black Friday promo, expressed optimism that this year’s edition would cushion the effects of the ongoing inflation and its impact on the prices of goods.
The promo, which will run from November 28 – December 1, 2024, will feature discounts across a broad category of products ranging from groceries, household items, and toiletries, among others.
She said: “For us at FoodCo, the Black Friday promo is a major touchpoint for connecting with our customers. This year’s edition holds even more significance given the prevailing economic climate that has adversely shrunk household incomes.
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“So, as a business that always puts its customers first, we see this as an opportunity to help our customers stock up on personal care and home essentials as well as shop a wide variety of top-quality items at huge cost savings.”
FoodCo noted that modern retail outfits are uniquely positioned to make a difference by providing affordable options and value-added services that ease financial burdens, highlighting the importance of customer-centric initiatives, such as loyalty programmes, discounts, and financial education, to foster resilience during these challenging times.
“Starting from November 28 to December 1, FoodCo will be offering exciting discounts on groceries, household items, and toiletries across all its brand stores in Ibadan, Lagos, and Abeokuta.
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“We’ll also be giving out free meal vouchers for some categories of purchases. We are optimistic that shoppers looking for the best deals this season will take advantage of the FoodCo Black Friday Promo to shop quality at affordable prices at their nearest brand stores,” she added.
Established in 1982 as a fresh fruit and vegetable store, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing, and entertainment. The company has 22 outlets spread across Oyo, Lagos, and Ogun States.
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