In line with the government’s ‘cash first’ policy for social transfers, the World Food Programme (WFP) is preparing the introduction of cash or voucher transfers in Ethiopia. This market assessment offers considerations that inform the design of such interventions for WFP. The report relies on secondary data analysis, consultations with WFP partners and a primary data collection exercise that covered 17 markets of Amhara, Somali and Tigray regions in October 2012.