Have you ever wondered what Indians like to spend their money on? Well, digital payment provider, Visa, has a fair idea about what Indians like to spend on and they have released data about consumer spending trends for the 2024 summer cricket season. Visa has found that while there is an overall increase in online transactions across all segments, food and grocery delivery apps have emerged as a clear winner with a 23% surge. They believe this is mainly due to the ongoing ICC Men’s T20 World Cup. Read on to know more about Visa’s report.
Indians Spending More Money On Food & Grocery Delivery Apps: Visa
Globally renowned digital payment provider, Visa has released data about how Indians like to spend their money. According to their consumer spending trends for the 2024 summer cricket season, they have found that there is an overall increase in online Visa transactions across all segments. However, with a 23% increase, food and grocery delivery apps have come out as clear winners in this trend.
According to Visa, this indicates India’s online spending potential. With the ongoing ICC Men’s T20 World Cup, Visa has found that more and more people are turning to ordering food and groceries online for comfort and convenience. In fact, as per their analysis, on match days, grocery delivery apps witnessed a 5% uptick. This highlights the growing consumer preference for convenience and speedy deliveries while they cheer for their favourite team at home.
Non-Metro Cities Hit A Six In-Consumer Spending
Another interesting find in Visa’s analysis is that non-metro Indian cities have emerged as the biggest daily spenders. With a growing trend of online transactions, cities like Dharamshala, Mullanpur, and Vishakapatnam have recorded the biggest daily spenders in India.
This trend highlights the expansion of the retail boom beyond metro cities. As per Visa’s analysis, this shift is also fueled by growing disposable incomes and the increasing adoption of digital payments outside of urban metros. Dharamshala recorded a 41% rise in daily spending, while Mullanpur in Punjab and Visakhapatnam saw a 32% and 20% rise in POS (Percent Rise in Daily Spending), respectively.
For Tier 1 cities like Kolkata, Mumbai, Chennai and Bengaluru, Visa noted a steady increase in daily in-store spending.
Now, that’s some interesting data! Do you also like to splurge on food and grocery delivery apps on match days? Let us know in the comments!
Cover Image Courtesy: Canva (representative image)