Zimbabwe's Currency Crisis Boosts Informal Night Markets as Traditional Stores Struggle - PRESS AI WORLD
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Zimbabwe's Currency Crisis Boosts Informal Night Markets as Traditional Stores Struggle

share-iconWednesday, January 01 comment-icon1 month ago 8 views
News sources:
latimesLATIMES
Zimbabwe's Currency Crisis Boosts Informal Night Markets as Traditional Stores Struggle

Credited from: LATIMES

  • Zimbabwe's economy is facing a crisis with the introduction of a new gold-backed currency, the ZiG, which is now struggling.
  • Traditional stores are unable to compete with informal markets, leading to increased prices and potential closures.
  • Informal night bazaars have emerged where shoppers find cheaper items, bypassing high costs associated with formal retailers.
  • Over 80% of the population is engaged in the informal sector, reflecting the dire economic situation.
  • Shoppers report greater satisfaction with night market prices, contributing to a shift away from traditional supermarkets.

For more details, visit the original article here.

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Zimbabwe Currency crisis Night markets Supermarkets Informal economy
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