By Gwendolyn B. BOAHEN
In today’s rapidly changing marketplace, from Makola to Melcom, Instagram shops to luxury malls, the journey from a basic need to a sophisticated want has become more than just a financial decision. It is now a reflection of identity, aspiration, and status.
At the heart of this transformation lies one powerful gatekeeper: affordability. Whether you’re buying a secondhand fridge in Kumasi or a new iPhone in Accra, your purchasing power determines not just what you can get, but how you perceive what you want.
From basic needs to aspirational wants
Every purchase begins with a need; food to curb hunger, clothes for protection, or shelter for safety. Options emerge quickly in choosing an option to satisfy your need. That simple need to eat morphs into choosing between waakye, pizza, or a bowl of vegan salad. It is not just about nourishment anymore; it’s now about taste, health, status, or lifestyle.
This shift is part of a broader consumer evolution. What once was a single functional solution is now becoming a spectrum of choices. Products start offering extra benefits, better convenience, stronger brand prestige, or emotional satisfaction. This is the process where a need transitions into a want, when the consumer is not only solving a problem but seeking experiences.
Producers respond – Innovation and differentiation
Businesses have been quick to respond to this shift. As Ghana’s middle class grows and digital marketing explodes, companies no longer compete on function alone. They compete on perceived value. A sachet water company now markets its brand as “pure and ethical.” A fashion brand aligns itself with African pride and sustainability. A smartphone becomes more than a device; it becomes a statement. With competition rising, brand positioning has become a strategic necessity. The same product can be sold at different price points depending on how the product is marketed to an elite, eco-friendly, innovative, community rooted individual.
Consumption and identity – What we buy, who we are
In Ghana and the world of global markets, buying decisions are now deeply personal. Consumers express who they are or who they hope to be through their purchases. A person buying organic values health and sustainability, one who wants to wear a luxury perfume is consciously signaling taste and status, an individual using Ghana-made products might be asserting national pride or supporting local economies.
For many, purchases are no longer just about having but about becoming. This fusion of identity and consumption has opened the door to powerful emotional marketing and intense brand loyalty; creating a new marketplace for existing and new competitors who may excel when done right.
The definition of purchasing power
The line between needs and wants is not just about money, it is about dreams. In Ghana and across the world, what we buy is no longer just about survival, it is about identity. The consistent choices being made are not just on spending, they are telling a story about who they are or who they hope to become.
The synergy in the marketplaces of Makola Market or step into an upscale Accra Mall, the activities exhibited are not just shopping but a way to craft an image, to signal status, or even to express pride in local craftsmanship.
Smart businesses get this. They know people do not just buy a product based on their feelings, prestige, or the value behind it. The dynamics on the market not only require branding but an emotional backing of dreams, status and perception must follow the product even after purchase, E.g. a smartphone can become a status symbol.
At the end of the day, we are all navigating the same tension between what we can afford and what we desire. One thing is clear; in today’s world, every purchase is a small piece of self-expression. What we buy does not just fill our homes, it reflects our personalities and desires.
Businesses must rethink their products and services
For the reasons earlier discussed, an establishment, be it a small tailor in Kantamanto or a big retailer in Accra Mall need to ask themselves, are we making things people want, or just making things we want to sell? This is not just a question for the boardroom. It is something to consider at every stage of the business, from the first sketch of a product to the moment it lands in a customer’s hands or jurisdiction, and even after sales services.
Because if what you are offering does not speak to someone’s personality, dream or perception, struggles, or pride, then the product has no value even with the price tag. It becomes just stuff. But when it fulfills any of the desires of the person, This is when a simple purchase becomes part of someone’s story. People don’t just want things; they want things that mean something. Businesses that understand these basics are the ones succeeding in this era of complicated competition.
>>>the writer works with Republic Investments (Ghana) Plc’s Marketing & Client Engagement department. She can be reached via 0244149464| Telephone: 0303944331 |Email:[email protected]| Website:www.republicghana.com
