Until few months back, if someone had asked me to name goods that sell the most in a depressed economy, I would be completely lost.
Or at best I‘d be left simply conjecturing.
Far from it.
How come then would I not know? The reason’s anyone good guess. Nothing difficult, just give it a try.
But thanks to a Forex seminar I recently attended which kind of piqued my interest in the subject.
During the question and answer session of the seminar, the facilitator as part of the reinforcing the fundamentals of forex trading asked if we have any idea of goods or services that sell the most in an economy in recession.
Many of the participants including my humble self had thought the right answer was none other item than food. After all, food comes first for man to live. More so, when the value of a local currency has taken a serious dip, surviving simply becomes the most important theme before all and sundry.
This no doubt gives courage to our conviction that it must be food and nothing else.
With the exception of a few who named some other things, majority of us thought it was nothing else but food.
But how wrong we were!
According to the facilitator, pharmaceutical products, healthcare related services and alcoholic drinks rank above other goods that sell the most in a depress economy.
He in fact did mentioned food and soft drinks as occurring somewhere in the midst. Not top notchers for all they were worth.
At first, it didn’t just resonate with me. Probably because I was putting on my traditional thinking cap.
And the reason is simple, he went further to explain, majority of the people work their ass off for pay packets that can barely take them home. As such they felt miserable most of the time. To deal with their miseries, they resort to drinking alcohol to get some temporal high and forgetfulness.
In addition, sickness and disease become more rampant which means people will patronise hospitals and other healthcare facilities the more.
And for these, drug sales will ultimately sky rocket.
Which invariably lead to sharp increases in the value of their shares.
There you’ve it. If ever you’re thinking of investing your money in an economy like ours in Nigeria.
It is any wonder then there’s a significant shift in the number of certain kind of alcoholic drink popularly called ‘Bitters’ in the country.
This is In addition to the traditional power houses producing various types of beers. Not forgetting also the exotic array of imported brands.
Though the trend is not a recent one; their is a brief history behind it.
Some years back, the first of these alleged medicinal drinks made its entry into the Nigerian food and beverage market. To those who know, the general consensus was that it came from a neighbouring West African country. And because it was such an instant hit, legion of local equivalent rapidly followed.
As it was the habit of Nigerians to jump on the band wagon of anything on the cutting edge.
Though I’d not be able to give you the exact figure of their number but a cursory look at the shelves of Bars and roadside Joints is a pointer to their rampant reality:
Namely that there’s a lock down of sort by these competing brands.
Obviously they’ve have succeeded in making a national nightmare out of Erectal Dysfunction (ED).
So much that everyone is beginning to suspect themselves.
And they’re well positioned to reap the full benefits.
True to their central USP, each is making a bogus claim to providing some level of cure to these medical conditions. It is important to know, however, that many of their claims have not been verified or validated by National Agency for Foods and Drugs Administration Control (NAFDAC) having carefully studied labels on most these products.
And to the best of my understanding, what NAFDAC has repeatedly done is to verify the roots and herbal constituents of these drinks (especially those that have applied for such) and not uphold any of their claims to permanently or temporarily cure any medical condition as they‘re claiming.
So where does this leaves us?
Agreed, Erectal Dysfunction is a growing concern among the people across different age grades. But is it enough a reason that people would go all out to continue to take these alcoholic drink in hope that it’ll be of any help in ameliorating their condition. These days, it is not uncommon to see both the old and the young with either the sachets or the bottled variants at street corners and parties.
Even religious ceremonies are no exception.
If you’re socially conscious enough, you could hear people recommend one of these drinks to their friends claiming it helps in getting their sexual grooves back.
What could be more worrisome, our motor parks are not left out of this illusional merry-go-round. If you’re observant enough, you’d notice drivers rushing through these drinks before getting behind the steering.
It gives them a high from shared experiences of these people. It also, according to many, gives a boost to their sexual experiences. But none had claim a total cure of their erectal dysfunction (ED) from taking the so called drinks tincture with rare African roots and herbs.
So why has these alcoholic drinks continue to soar in popularity?
Somehow it validates the position of held by the economists.
And why, also. are the people with erectal condition unwilling to toy a more reasonable line of action by seeking the help of the medical officers instead of blindly believing that these medicinal drinks will help?
The moral of this write up is not to insist people should stop taking them but that a bit of responsibility must be call to action.if you’re drinking bitters to get high fine. But to say it’ll get you to the correctional station desirable is just a fantasy. An illusion.
So beware of fake Alcoholic Beverages in the marketplaces!