Prices Of World Cup Paraphernalia Shoot Up

With just two days to the kick-off of the much-anticipated 2014 FIFA World Cup tournament, the prices of the event paraphernalia such as replica jerseys, caps, mufflers, whistles, and flags have shot up drastically. For instance, a Black Stars-branded replica jersey, which was selling for GH�20 some weeks back, is now going for GH�40, while the prices of Ghana flags have also doubled, depending on the size and texture. Similarly, Black Stars-branded caps have also moved from GH�10 each to GH�15, while head and armbands are now going for between GH�3 and GH�7 each, up by between 30 and 50 per cent. This came to light when the Graphic Business visited markets at Osu and Makola to check the prices of paraphernalia on display. For instance, a Black Stars-branded replica jersey, which was selling for GH�20 some weeks back, is now going for GH�40, while the prices of Ghana flags have also doubled, depending on the size and texture. Similarly, Black Stars-branded caps have also moved from GH�10 each to GH�15, while head and armbands are now going for between GH�3 and GH�7 each, up by between 30 and 50 per cent. This came to light when the Graphic Business visited markets at Osu and Makola to check the prices of paraphernalia on display. As to why the prices had suddenly changed, one of the traders at Osu, Mr Nathaniel Djani, explained that the prices had gone up because of the high demand for the paraphernalia in the run-up to the games. He said traders in some of the markets had already switched from dealing in items such as clothes and footwear to the sale of Black Stars paraphernalia. Mr Djani explained that because the demand for the replica jerseys, among others, had increased, the manufacturers, playing on the forces of demand and supply, had to increase the prices. Subsequently, Mr Djani advised soccer fans who would want to purchase any of the paraphernalia to do so now and not wait till the last minute because, according to him, the prices would shoot up again should the Black Stars win their first match. Due to the tight nature of Ghana�s group, many soccer fans are a bit skeptical about about the chances of the Black Stars and seem to have adopted a wait and see attitude. In previous tournaments, the euphoria aboyt the event heightens only when Ghana has won its match and this year seem to be no exception. The traders at Osu are optimistic about the chances of the Black Stars and urged Ghanaians to continue praying hard for the players and their technical handlers. In calling for the prayers, it is also clear that their motive may be strictly business because the more the Stars progress, the more money they will make from the sale of their products. Another trader, Mr Frederick Osei, noted that however, that although sales was not booming at the moment, he was confident that things would get better when the tournament starts. He indicated that both foreigners and Ghanaians alike are patronising the paraphernelia for themselves while others are buying for their relatives abroad. �More and more people are patronising the items, although some only come to ask for the prices,� he said but noted that �from this week, things will change for the better�. The GRAPHIC BUSINESS also observed that some of the traders had taken advantage of the situation to pitch camp along the pavements in various parts of the Business District of Accra to sell paraphernalia. While some shops have hung a few of the Black Stars� merchandise, others have displayed them on mats spread on the ground, while a couple of cars were also seen flying the Ghana flag. It was also observed that the sale of replica Black Stars jerseys and other items in the national colours were gradually picking up and it was expected to further pick up when the Black Stars play their first game on June 16. Banks to organise viewing sessions The Head of Marketing and Public Relations of Unibank, Mr Richard Osei Anane in an interview with the Graphic Business said the bank will be giving out branded GFA T-shirts to their customers as well as partner other corporate bodies to show the matches on giant screens to be mounted at vantage points. He said the Black Stars are a unifier and brings smiles to the faces of many, adding that it was against this background that the bank therefore saw it as a nationalistic call to support the team as it makes its third appearance at the World Cup. Mr Anane said as a way of supporting the Stars, the bank has signed a US$1.2 million dollar sponsorship package with the GFA and also sponsoring three Ghanaians to Brazil to watch the Black Stars group games. He also pointed out that the bank had a one on one session with the players on how to invest and according to him, most of them decided to open an account with the bank after the session. The Manager of Communications at Stanbic Bank, Mr Kojo Akoi Larbi, also disclosed that the bank was likely to give out Black Stars branded jerseys and items to customers but said a decision has not yet been made. He however said the bank would be organising a couple of viewing sessions of the world cup matches for Ghanaians. He said as part of their support for the national team, they donated a sum of GH� 100,000 to the ministry in order to help convey supporters to Brazil to watch the tournament. Mr Akoi Larbi said the bank also rewarded two of their customers with a fully paid trip to watch all of Ghana�s three group games.