'People buying what their pockets have'

Sales supervisor at International Products Ltd (IPL) Ramdai Ramsingh said sales have been on the decline for the past three or four years given the downturn of the economy.

Sales, she said, are just not the way it used to be with customers carefully purchasing just what they needed, and comparing prices for more affordable products.

IPL was one of over 270 booths at the TT Manufacturers' Association (TTMA) 20th Trade and Investment Convention 2019, on Friday, at Centre of Excellence, Macoya, where manufacturers showcased their products and hoped investors would be able to place them on a global level.

"We are a distribution company. We bring products from Mexico, Haiti, El Salvador... We distribute to Caricom countries and within TT. We are seeing sales going up, going down, and now it is down with all the recent retrenchments and lack of unemployment.

"There has been a decline in sales although we bring in products at a competitive price. People are buying what their pockets have, they are buying the more affordable items. So if you are accustomed to buying an item for $2 and you get a quality product for $1, of course you will buy it," she said.

She also said that difficulty in acquiring US dollars was having a negative impact on business as 95 per cent of IPL's products were imported.

"Getting US dollars has been tough for us and we need that to purchase our products. We go to the bank, of course, but we try to get it where ever we can."

Trade and Industry Minister Paula Gopee-Scoon, on visiting the convention, said it was heartening to see so many new exhibitors who showed great strides in packaging and labelling their products, getting them ready for the market.

She also said while Tobago products were on shelves on the island, there was a need for them to be brought over to the Trinidad market. She said some of them were ready for the Caricom market and hotels.

"We want distributors to take on these products. This has been a huge success and I think the buyers are going to be very happy. We want to get the star products out in particular markets that we missed, but everything has to be research-based."

Asked about a comment made by a Guyanese group that less than ten per cent of their products were on TT's shelves, Gopee-Scoon said this should not be so.

"I can't buy into the fact that is not reciprocated. TT really has a larger manufacturing sector which is why our products are there. I am impressed with the products they have and I want our investors to be open-minded.

"There should be nothing preventing others from entering our market, that is why this convention is here. It is two-way, it is not just about our goods only. It is all about being competitive."

The minister said the ministry was looking to find the star product and the right niche in the market.

"There is still room in the Caribbean market and we are about to start an engagement with Chile. The North American market is where we have a huge West Indian diaspora and it is not only about Miami and New York. Again it is about research."