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NEW DELHI :
Indians used credit cards to spend more on food, groceries, shopping, and pay utility bills in 2020, as spends on travel and entertainment dipped sharply, as per data by credit card payment services company Cred that scanned spends of 1 million members across India’s top cities.
The data captures four periods, including pre-lockdown, lockdown, unlock, and the year-end festive season, across several categories such as shopping, food, utilities, travel, spends on fuel, and insurance.
Shopping, which includes apparel and electronics, and food, which includes groceries and ordering-in from eateries, saw the highest credit card spends through
Consumers and retailers adopting contactless shopping tech
Since the beginning of shopping time, retailers have continually admonished shoppers to “look, don’t touch.” In the age of COVID, consumers are now actively avoiding unnecessary touching goods in stores themselves.
But, Laura Heller, editorial content and communications director for Publicis Health Media and moderator of the CES 2021 “Future of Contactless Shopping conference,” noted that
Digital redefines consumers’ transactions, but physical channels are expected to blend in
As an avid shopper, Queenie Boado, a third-year law student, used to shop in malls on a weekly basis before the pandemic. For her, shopping helps relieve the stress from both work and school.
Then came the quarantine, and she swiftly turned to online shopping. “Not only it is convenient; it’s much safer than the usual mall shopping. It saves time and has better prices too,” Ms. Boado told BusinessWorld via online correspondence.
Since the coronavirus disease 2019 (COVID-19) came into the country last year, consumers suddenly
That number represents a 32 percent increase over the same time the previous year, ADI said.
The number of online spending during the two-month holiday shopping period was, for the first time, over $1 billion every day, according to ADI, which shows that the predominant mode of spending over the past year because of the pandemic is likely here to stay.
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