Emmanuel OchayiNigerian Breweries PLC has sent shockwaves through the beverage industry with its latest announcement of a price hike.
This move revealed through a “Price Review Notification” distributed to direct customers in the West Zone, is scheduled to take effect from Monday, February 19, 2024.
In a bid to offset the mounting production expenses, Nigerian Breweries PLC deemed it necessary to implement these adjustments.
The company, however, offered reassurance to customers with fully funded and system-registered orders before the stipulated date, ensuring they would be honored at existing prices. Orders surpassing the communicated quantity window would be subject to the revised pricing structure.
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This marks the third instance this year where the FMCG giant has revised its pricing strategy, indicating the challenges faced by the industry in the wake of escalating input costs.
The decision by Nigerian Breweries PLC is set to transform the perception of beer, traditionally viewed as a beverage for the masses, into a symbol of luxury accessible to the common man.
With this price adjustment, beer enthusiasts may find themselves adjusting their consumption habits, considering beer more of a prestige beverage rather than a routine indulgence.
As Nigerian Breweries PLC prepares to implement these changes, stakeholders across the industry are bracing for a shift in consumer behavior and market dynamics.
