Q2 2024 Zambian Consumer Pulse Study

Explore the latest consumer behaviours and financial health trends with TransUnion's Q2 2024 Consumer Pulse Study. This in-depth report provides valuable and timely insights regarding how Zambian households managed their finances, spending and debt, and explores their experiences with and attitudes toward online fraud.

Key findings and critical insights include:

• Financial downturns and expectations: Only 33% reported income increases in the past three months, a significant drop from Q2 2023. However, 79% expected their incomes to rise over the next 12 months, with younger generations the most optimistic.
• Increased financial pressure: 35% struggled to pay at least one bill or loan in full, up from 33% last year. Leading causes included small business closures, job loss and reduced wages.
• Credit demand and access: 48% planned to seek new or refinance existing credit within the year, up 10% from last year, and 32% felt they had adequate access to credit, slightly up from a year ago.
• Online transactions and fraud concerns: 34% (mostly younger generations) conducted over half their transactions online. However, 83% reported being targeted by fraud schemes, highlighting the need for enhanced data protection measures

Learn how these trends can inform your business strategies and help drive economic opportunity.