Exhibitors/traders at the ongoing 16th Abuja International Trade Fair (AITF) holding at the Trade Fair Ground, Abuja Chamber of Commerce and Industry and Industry (ACCI).
Speaking to journalists over the weekend at the fair, an exhibitor, Mr. David Ugo, said traders decided to crash the prices because many of them understand the low purchasing power of consumers.
“We all know the economy is in bad shape and most of us are not focusing on big profits but to dispose our stocks to get the cost price and little profit. That is why you discover that our prices here are so low. We want to attract buyers,” he said.
Another exhibitor, Salihu Tanko, said the clothing and foodstuff section had very low-price range, due to decision of most exhibitors to ensure value for money for buyers at the trade fair.
“It is the tradition for trade fair prices to be lower than what obtains in normal markets. This is one advantage of trade fair participation. Dubai International Trade Fair and others draw huge crowd for this reason,” he noted.
Speaking on behalf of the fair organizers ACCI, the chamber’s director-general, Victoria Akai, said prices are normally low at the annual trade fair because exhibitors adopt several pricing strategies.
“Realistically, real shopping is best done at the trade fair because of price advantage.
“Records at our annual fair confirm that price advantage. So, we normally record high patronage. For this year, it is not different because the economic situation demands consumers to buy smartly,” she said.
A survey of exhibition stands at the fair showed that the prices of good and products were lower than what obtained at major markets in Abuja – Wuse, Utako, Kaura and Garki.
Science Nigeria gathered that the exhibition which started few days ago witnessed huge patronage, as many Nigerians in the Federal Capital Territory sought to take advantage of the low prices.