This Diwali season witnessed a remarkable surge in high-value spending among Indian consumers, with a significant 42% of credit card users crossing the ₹50,000 mark in their festive purchases, according to an exclusive survey by Paisabazaar.
Premium Purchases Take Center Stage
The survey reveals that Indian shoppers are increasingly moving toward premium and luxury categories during festive seasons. From high-end electronics to luxury fashion and premium home appliances, consumers are not hesitating to open their wallets wider than ever before.
Key Findings from the Survey
- 42% of respondents spent over ₹50,000 using credit cards during Diwali celebrations
- Substantial increase in big-ticket purchases compared to previous years
- Growing preference for premium brands and luxury items
- Credit cards emerging as the preferred payment method for high-value transactions
Changing Consumer Behavior Patterns
The data indicates a significant shift in how Indian consumers approach festive spending. What was once primarily about traditional gifts and sweets has now evolved into a comprehensive shopping experience encompassing multiple premium categories.
"The survey results clearly demonstrate the evolving nature of festive spending in India," the report notes. "Consumers are increasingly viewing festivals as opportunities to invest in premium products and experiences."
Economic Implications
This spending surge reflects growing consumer confidence and economic optimism. The willingness to make substantial purchases using credit instruments suggests that Indian consumers are feeling more financially secure and are comfortable with leveraging credit for lifestyle upgrades.
Future Spending Trends
Industry experts believe this trend of high-value festive spending is likely to continue, with upcoming festivals expected to follow similar patterns. The data provides valuable insights for retailers, financial institutions, and market analysts tracking consumer behavior in the Indian market.
The Paisabazaar survey offers a comprehensive look at how digital payment methods, particularly credit cards, are reshaping the festive economy in India, creating new opportunities and challenges for both consumers and businesses alike.
