365Telugu.com online news, Mumbai, November 7th, 2024:This festive season, Indian shoppers leaned into the joy of offline purchases, showing a 30% increase in spend-per-user, according to Kiwi, India’s pioneering platform for credit-based UPI purchases. Kiwi’s data showcases a heartwarming trend: communities supporting local merchants and neighborhood stores. This surge in offline transactions, particularly at smaller shops and general stores, delivered a timely uplift to India’s local retail sector during the celebrations of Dhanteras and Diwali.
The shopping spirit was vividly alive in local stores, with General Stores alone reporting a 55% increase in spend-per-user. Traditional Diwali purchases like jewelry also saw a notable rise of 17%. Other popular categories—Groceries, Dining, and Electronics—experienced upticks as well, with spend-per-user up by 24%, 18%, and 24%, respectively.
Indian shoppers’ choices reveal a strong preference for diverse, locally sourced purchases during festivities. Small neighborhood merchants thrived, with a significant 31% growth in spend-per-user in Tier-1 cities and 29% in Tier-2 cities, outpacing larger retailers, which recorded a 23% and 17% rise in Tier-1 and Tier-2 cities, respectively. Consumers this season truly rallied to support small businesses in their communities.
Regional spending differences further highlighted unique preferences. In Tier-1 cities, shoppers focused more on experiences, with Dining up by 22% and Jewelry purchases by 18%. Meanwhile, Tier-2 cities favored essentials, showing a substantial 41% growth in Electronics purchases and a 64% surge in General Store spending.
“Credit on UPI is a made-in-India solution that brings consumers closer to local businesses in a seamless, impactful way,” shared Mohit Bedi, Co-founder of Kiwi. “This festive season, we saw communities come together, with people supporting small merchants and embracing the freedom and convenience Credit on UPI offers.”
With insights from 400 cities and a growing user base of 1 lakh, Kiwi’s Credit on UPI is making shopping easier, empowering consumers to celebrate with their communities this festive season.