Indian consumers have unleashed an unprecedented wave of festive spending through their credit cards, according to a groundbreaking new report. The data reveals a remarkable shift in purchasing behavior as more than 42% of cardholders crossed the ₹50,000 spending threshold during the recent festive period.
The Spending Revolution
This isn't just ordinary shopping—it's a financial phenomenon. The report highlights how Indian consumers are increasingly relying on credit cards for their major purchases, moving beyond traditional payment methods. The ₹50,000-plus spending bracket saw the most dramatic growth, indicating consumers' growing confidence in digital payment systems and their willingness to make substantial purchases on credit.
What's Driving This Spending Spree?
Several factors are contributing to this credit card revolution:
- Festive offers and discounts: Banks and retailers rolled out attractive cashback and EMI options
- Growing digital comfort: Consumers are increasingly comfortable with high-value online transactions
- Premium purchases: More people are buying electronics, jewelry, and luxury items
- Travel revival: Post-pandemic travel boom contributing to higher ticket purchases
The Big Picture
This spending pattern represents more than just seasonal shopping—it signals a fundamental change in how Indians approach personal finance. The willingness to use credit for significant purchases indicates growing financial confidence and the normalization of credit-based consumption in the Indian market.
Industry experts suggest this trend is likely to continue beyond the festive season, reshaping the retail landscape and forcing financial institutions to adapt their credit card offerings to meet evolving consumer expectations.
