Indian Economy News

Consumer spending peaks in non-metro Indian cities: Visa

  • IBEF
  • June 28, 2024

Visa reported significant spending trends in non-metro Indian cities like Dharamshala, Mullanpur, and Vishakapatnam during the 2024 summer cricket season. Insights from Visa Consulting and Analytics highlighted robust growth in consumer expenditures driven by rising disposable incomes and increased adoption of digital payments beyond urban areas.

Online transactions surged by 23% during the cricket season, with food and grocery delivery apps seeing a 5% uptick on match days. This shift underscores a growing preference for convenient, home-based shopping experiences among Indian consumers.

Dharamshala recorded a 41% increase in daily point-of-sale (PoS) spending in non-metro regions. In comparison, Mullanpur and Vishakapatnam showed rises of 32% and 20%, respectively. Tier-1 cities like Kolkata also saw a 20% rise in daily PoS transactions, alongside Ahmedabad's 12% increase in credit card expenditures. Average transaction sizes for mass-market and mass-affluent products rose by 11% and 12% during match days in these locations.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.