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Zambia Q2 2023 Consumer Pulse Study

General Optimism With Prudent Shift in Spending Habits

The Q2 Zambia Consumer Pulse Study reported a mixed financial outlook for Zambian consumers. Whereas 38% saw rising incomes over the previous quarter and 82% expected further increases in the coming year, many were bracing for higher cost of living and loan expenses in the months ahead.

To meet financial obligations and manage debt, 43% intended to make instalment payments; 29% planned to borrow from friends and family; almost a third were open to using their savings; and 39% said they’d cut discretionary spending.

Access to credit and confidence in the credit market have declined. While 96% valued credit access, only 30% believed they had sufficient access, and 62% did not intend to seek new credit or refinance loans due to rising interest rates.

With increased awareness of digital fraud, 76% reported being targeted in the last three months. Notably, 95% of Zambian consumers were wary of sharing personal information.

Fill in the form to download the Zambia Q2 2023 Consumer Pulse Study for valuable insights on shifting consumer behaviours, emerging trends and actionable strategies to fuel business growth.


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