How have Ukrainians’ expenses changed? CEO of UAPAY – Juliia Fedosiuk told about this and other things in NV Business.
Ukrainians responded vulnerable to economic challenges by adapting and changing their consumption habits. Here are the key aspects that stood out in our consumer behavior:
1️⃣ Economic adaptation.
Despite a 30% decline in GDP in 2022, the National Bank’s forecast of a 5% rise in 2023 points to the reintegration of the economy.
2️⃣ Cost change.
Exclusive UAPAY statistics show that Ukrainians spend more actively on marketplaces and invest in themselves.
3️⃣ Cashless era.
Growth of non-cash payments – the share reached 63.3%, and the number exceeded 93.5% of all card transactions.
4️⃣ Savings and reduction of income.
More than half of Ukrainians (53%) experience a decrease in income, but 67% claim that their expenses have increased in 2023.
5️⃣ Contactless boom.
The use of contactless payments has increased, and an increase in the cost of paying for goods/services online has also been noted.
6️⃣ Growth of industries.
There is an increase in spending on education, sports, development, and food.
7️⃣ Mastercard on the front line.
Mastercard’s share in transaction volume and number exceeds VISA. Mastercard increased its share in the volume of transactions to 56.1%, and in the number to 56.7%.
Even under difficult conditions, Ukrainian business continues to develop. According to forecasts, GDP growth will continue in 2024 at the level of about 4%. This shows the resourcefulness and adaptability of our society!
Read more at the link: https://biz.nv.ua/ukr/experts/spozhivannya-ta-ekonomiya-na-shcho-vitrachayut-ukrajinci-ostannim-chasom-novini-ukrajini-50388075.html
