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<ul><li><keyword id="19920097" type="General" weightage="20" keywordseo="Karwa-Chauth" source="keywords">Karwa Chauth</keyword> is set to add ₹22,000 crore worth of business to the <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword>.</li><li>This year's spending is expected to surpass last year's ₹15,000 crore mark.</li><li>Karwa Chauth will be celebrated across India on Sunday.</li></ul>Deeply rooted in Indian culture and spirituality, the festival of Karwa Chauth has grown into a significant economic event, with an estimated ₹22,000 crore worth of business anticipated in markets nationwide. The traditional festival will be celebrated across India on Sunday, marking a day of fasting and prayer for the well-being and longevity of spouses. This year's spending is expected to surpass last year's ₹15,000 crore mark, reflecting a surge in enthusiasm and <keyword id="23410660" type="General" weightage="20" keywordseo="consumer-activity" source="keywords">consumer activity</keyword>. Over the past week, markets across the country have witnessed a lively atmosphere, with bustling crowds shopping for clothing, jewellery, cosmetics, gift items, and puja essentials in preparation for the occasion. Delhi, one of the central hubs for the festivities, is expected to contribute significantly to this economic boom, with sales projected to reach approximately ₹4,000 crore. The shopping spree spans a variety of items associated with Karwa Chauth, including jewellery, traditional clothing, makeup products, sarees, and religious items like Karwa pots, sieves, lamps, wicks, and prayer books. In addition, red glass bangles, anklets, toe rings, lockets, and intricately designed Karwa thalis are among the popular items being purchased. This year, silver Karwas have also been introduced to the market, and they are expected to be in high demand. Henna (mehendi) application, considered auspicious for the festival, has also seen a surge in popularity, with markets, temples, and public places filled with women lining up to get their hands decorated. In Delhi, Connaught Place's Hanuman Temple has become a prominent spot where thousands gather for mehendi, while beauty parlours and private mehendi sessions are booked solid. Henna artists find a valuable opportunity to earn a livelihood during this period. Karwa Chauth not only boosts retail activity but also sets the stage for the upcoming <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword>, with many shoppers placing orders for <keyword id="20242079" type="General" weightage="20" keywordseo="gold-jewellery" source="keywords">gold jewellery</keyword>. The wedding season, commencing in November, traditionally sees a rise in bookings for bridal jewellery, and the festival serves as an early catalyst for these purchases. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms">Best smartphones under ₹25,000 in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

Karwa Chauth festivities to boost economy by ₹22,000 crore

If you're looking for some inspiration on how to spend the upcoming holiday season, it's time to take cues from fellow Indians. A recent study by American Express has highlighted that a staggering 97% of Indians have their travel plans set for the forthcoming festive season, and more than 30% have already made their bookings. What's more, around 93% won't shy away from spending a few extra bucks if it means making their trip more comfortable and fun. A recent <keyword id="23687478" type="General" weightage="20" keywordseo="Skyscanner-report" source="keywords">Skyscanner report</keyword> titled Travel Trends 2025 also underlined this growing preference for <keyword id="23687479" type="General" weightage="20" keywordseo="comfortable-travel" source="keywords">comfortable travel</keyword> among Indians. Per the report, 57% of Indians were okay spending a little extra to get a good quality in-flight meal. For 47%, good seats and hence, seat selection was a priority, and 42% of surveyed Indians preferred comfort right from the trip's start-valuing access to airport lounges. Per the <keyword id="23687477" type="General" weightage="20" keywordseo="American-Express-study" source="keywords">American Express study</keyword>, while most people (63%) just want to let their hair down and relax, 54% want to don their explorer hats and see new places. About 27% just want to get away from the chaos of their daily lives and spend time with their near and dear ones. Most of us (around 88%) just have Bharat Darshan on our itinerary, while 61% felt like the world was calling us, which is why they plan to travel internationally. Irrespective of destinations, a staggering 91% of Indian travelers believe holidays can help build resilience and strength, so they’re better able to handle the stresses of everyday life. But even amidst all this traveling, Indians do not forget to be budget-conscious, which explains why 73% of Indians won't shy away from generously using their <keyword id="23687480" type="General" weightage="20" keywordseo="credit-card-points" source="keywords">credit card points</keyword>, <keyword id="23687481" type="General" weightage="20" keywordseo="airline-miles" source="keywords">airline miles</keyword>, or loyalty rewards. Soak in the festivities and experience The American Express study, which spanned Australia, Canada, France, Germany, Hong Kong, Italy, Japan, Mexico, Singapore, Spain, the United Kingdom, and the United States, apart from India, only reinforced that pretty much everyone across the world is in a mood to travel and relax. Globally, 58% of respondents from these countries had plans to visit their family and friends. For those few who had no travel plans but rather wanted to lounge and laze in their homes, 40% had family or friends visiting them. But quality time with loved ones was not the only thing on the list, with 55% also taking trips outside of visiting family. Also, buying gifts during the season is seemingly passe. Every 1 in 3 respondents chose gifting their loved ones an experience rather than a material gift. Atop this gift list are entertainment-related experiences, preferred by 59% of respondents. Travel-related experiences come next, chosen by 54% of those surveyed, followed by food and drink-related experiences, which were opted for by 49% of respondents. The Skyscanner also highlighted that 66% of Indian travelers plan to travel more in 2025. As to the deciding factors for choosing the next travel destination, food, culture, and weather played a crucial role for 63%, 58%, and 57% of respondents, respectively. Skyscanner's report also highlighted this trend, noting that people were increasingly looking forward to having unique experiences. 53% of Indians surveyed wanted to travel to watch a live game or sporting event in 2025. At 54%, this number was slightly higher amongst the 25-34 age cohort.

Travel, Eat, and Have Fun: How Indians plan to spend their holidays

New Delhi: <keyword id="22930355" type="General" weightage="20" keywordseo="Janmashtami-festivities" source="keywords">Janmashtami festivities</keyword> across the country led to a <keyword id="22930356" type="General" weightage="20" keywordseo="business-surge" source="keywords">business surge</keyword>, with transactions exceeding Rs 25,000 crore, according to the Confederation of All India Traders (<keyword id="20143308" type="General" weightage="20" keywordseo="CAIT" source="keywords">CAIT</keyword>). These figure highlight the robust consumer spending during the festival driven by the vibrant celebrations of <keyword id="20126824" type="General" weightage="20" keywordseo="janmashtami" source="keywords">Janmashtami</keyword>, marking one of the most commercially active periods of the year. CAIT's National General Secretary and Member of Parliament from Chandni Chowk, Praveen Khandelwal, stated that during this significant festival, large-scale sales were observed, particularly in flowers, fruits, sweets, deity costumes, decorative items, fasting sweets, milk, curd, butter, and dry fruits. Khandelwal said that festivals like Janmashtami are an important part of the Sanatan economy, which strengthens the nation's economy. CAIT's National President, BC Bhartia said that Janmashtami was celebrated with great enthusiasm across the country, especially in North and West India, where the festival was celebrated with much joy. <keyword id="20187217" type="General" weightage="20" keywordseo="Krishna-Janmashtami" source="keywords">Krishna Janmashtami</keyword> was celebrated on August 26 this year across the country. Devotees traditionally fast and decorate temples and homes with flowers, diyas, and lights. Temples were decorated attractively, and there were large crowds of people visiting them. He highlighted that the special attractions of the Janmashtami festival included digital tableaux, selfie points with Lord Krishna, and many other delightful scenes. In cities, there were numerous bhajans, religious dances, and discourses by saints and sages. Various social organizations also organized large-scale Janmashtami celebrations. According to scriptures, Janmashtami is celebrated on the eighth day of the dark fortnight of the month of Bhadrapada. It is the day Lord Krishna was born. Earlier this month, the CAIT anticipated a festive trade of over Rs 12,000 crore across the country during the Rakhi festival. In 2022, the business during the Rakhi festival stood at around Rs 7,000 crore, in 2021 it was Rs 6,000 crore, in 2020 it was Rs 5,000 crore, in 2019 it was Rs 3,500 crore, and in 2018 it was Rs 3,000 crore, as per Khandelwal. The trade body said that the markets are witnessing a massive rush for shopping, and people are very enthusiastic about the festival.

Janmashtami festivities drive business across India, sales exceed Rs 25,000 crore: CAIT

The festive season is here and with it, you are likely to make several purchases from e-commerce platforms, be it for yourself or for your friends and family. Choosing the right credit card for <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword> can make a significant difference in how much you save and earn from your purchases. <keyword id="19953671" type="General" weightage="20" keywordseo="credit-cards" source="keywords">Credit cards</keyword> not only allow you to easily get products on credit, they can also make them cheaper thanks to cashback and reward points. You also get access to airport lounges, railway lounges, dining offers and more. In this post, we look at some of the <keyword id="23600028" type="General" weightage="100" keywordseo="best-credit-cards-for-online-shopping" source="Orion">best credit cards for online shopping</keyword> in India. <h2><keyword id="3294523" type="General" weightage="20" keywordseo="best-credit-cards" source="Orion">Best credit cards</keyword> for online shopping in India</h2><h3><keyword id="23600026" type="General" weightage="20" keywordseo="Amazon-Pay-ICICI" source="keywords">Amazon Pay ICICI</keyword> credit card</h3> <div type="image" title="Amazon Pay ICICI credit card" msid="114354421" hostid="261" caption="&amp;lt;p&amp;gt;Amazon Pay ICICI credit card&amp;lt;/p&amp;gt;"></div> The Amazon Pay ICICI Credit card is among the most popular co-branded credit cards, offered by ICICI Bank in partnership with e-commerce giant Amazon India. It’s great for those who regularly shop on Amazon, as it offers a 5% cashback on all purchases on the platform. Key Features: <ul><li>Cashback: Up to 5% cashback on Amazon purchases, and 2% cashback on other online shopping.</li><li>Additional cashback: Earn 2% cashback at partner stores, and 1% on all other spends.</li><li>No annual fee: Lifetime free credit card.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul> <div type="Article" hostid="261" msid="113123752" title="Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee" mstype="2" mssubtype="0"></div> <h3>HDFC Millenia credit card</h3> <div type="image" title="HDFC Millenia credit card" msid="114354433" hostid="261" caption="&amp;lt;p&amp;gt;HDFC Millenia credit card&amp;lt;/p&amp;gt;"></div> The HDFC Millenia is a popular credit card from HDFC Bank and is among the most sought-after cards from the bank. This card offers good rewards on Amazon, Flipkart, Myntra and other online platforms. It is also good for utility bills and fuel spending. Key Features: <ul><li>Cashback: 5% cashback on Amazon, BookMyShow, Swiggy, Flipkart, Myntra and more. It offers 1% cashback on all other spends.</li><li>Lounge access: 1 complimentary lounge access per quarter.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul><h3>Flipkart Axis Bank credit card</h3> <div type="image" title="Flipkart Axis Bank credit card" msid="114354438" hostid="261" caption="&amp;lt;p&amp;gt;Flipkart Axis Bank credit card&amp;lt;/p&amp;gt;"></div> With Amazon partnering with ICICI Bank, Flipkart joined the race and partnered with Axis Bank to launch the Flipkart Axis Bank credit card. The card offers 5% cashback on Flipkart and Cleartrip. Key Features: <ul><li>Cashback: 5% cashback on Flipkart and Cleartrip, 4% on preferred partners and 1% on other spends. </li><li>Lounge access: 4 complimentary lounge access per year on spending ₹50,000 during the previous 3 months.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul> <div type="Article" hostid="261" msid="98090488" title="How to use credit card to make UPI payments" mstype="2" mssubtype="0"></div> <h3>Cashback SBI Card</h3> <div type="image" title="Cashback SBI credit card" msid="114354449" hostid="261" caption="&amp;lt;p&amp;gt;Cashback SBI credit card&amp;lt;/p&amp;gt;"></div> The Cashback SBI Card has quickly emerged as one of the most popular cards from the state-owned bank, beating its SimplyClick card, which was one of the preferred cards for online spending. The USP of this card is that it offers a flat 5% cashback on all online spending. Key Features: <ul><li>Cashback: 5% cashback on all online spends, without any merchant restrictions. It also offers 1% cashback on all offline transactions.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li><li>Annual fee waiver: Fee waiver on spending ₹2 lakh in the preceding year.</li></ul><h3><keyword id="23600027" type="General" weightage="20" keywordseo="Axis-Bank-Ace" source="keywords">Axis Bank Ace</keyword> credit card</h3> <div type="image" title="Axis Bank Ace credit card" msid="114354458" hostid="261" caption="&amp;lt;p&amp;gt;Axis Bank Ace credit card&amp;lt;/p&amp;gt;"></div> The Axis Bank Ace credit card is another excellent card, especially for those looking for a card for bill payments, utility spending and more. It is also one of the few credit cards that can be added to Google Pay. Key Features: <ul><li>Cashback: 5% cashback on all bill payments, mobile recharges and DTH recharges via Google Pay. It also offers 4% Swiggy, Zomato and Ola.</li><li>Lounge access: 4 complimentary lounge access per year on spending ₹50,000 during the previous 3 months.</li><li>Fuel surcharge waiver: 1% fuel surcharge waiver across all petrol pumps.</li></ul> <div type="Article" hostid="261" msid="102133212" title="HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more" mstype="2" mssubtype="0"></div> <h3>American Express SmartEarn credit card</h3> <div type="image" title="American Express SmartEarn credit card" msid="114354467" hostid="261" caption="&amp;lt;p&amp;gt;American Express SmartEarn credit card&amp;lt;/p&amp;gt;"></div> While it is more challenging to get American Express cards than other cards on the list, getting your hands on the SmartEarn credit card is relatively easy compared to other cards offered by American Express. Key Features: <ul><li>Reward points: 10X membership reward points on Flipkart, Zomato, Myntra, Uber, Ajio and more. 5X membership reward points on every ₹50 spent on Amazon.</li><li>Monthly spends: Earn 500 membership reward points on spending ₹2,500 in a month on 10X reward point partners.</li><li>Annual fee waiver: Fee waiver on spending ₹40,000 in the preceding year.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/finance/news/here-are-the-benefits-you-get-with-indias-most-expensive-credit-card-with-a-3-54-lakh-annual-fee/articleshow/113123752.cms">Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee</a> <a href="https://www.businessinsider.in/stock-market/news/bigger-they-are-harder-they-fall-a-look-at-how-the-countrys-biggest-ipos-have-fared/articleshow/114307997.cms">Bigger they are, harder they fall – A look at how the country’s biggest IPOs have fared</a> <a href="https://www.businessinsider.in/business/news/hdfc-bank-and-swiggy-launch-co-branded-credit-card-to-offer-discount-to-customers/articleshow/102133212.cms">HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more</a>

Best credit cards for online shopping this festive season

Beverage major Coca-Cola is going to have its highest-ever spending on brands in the second half of 2023 in India, when the ICC Men's <keyword id="3859" type="General" weightage="20" keywordseo="cricket-world-cup" source="Orion">Cricket World Cup</keyword> is coinciding with the festive season, which is expected to boost the consumption, a top company official said on Friday. Though the company has not shared the quantum of spending but said it is a "big part of overall <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>" that they are going to make during the ICC World Cup, which provides "a very big platform" for their business expansion, Coca-Cola India and South-West Asia Vice President, Marketing Arnab Roy, said. Coca-Cola, which had a "challenging summer" this year due to unseasonal rains, expects people will spend money across categories during the festive season despite challenging macro conditions, and affordable packages would do well. When asked if Coca-Cola can make up for a slower second quarter, Roy said: "Probably based on the trends we are seeing both in Q3 and the beginning of Q4, we feel very positive and encouraged, with the way we hopefully end this year." <keyword id="49792" type="General" weightage="20" keywordseo="festival-season" source="Orion">Festival season</keyword> has already begun in some parts of the country, where Coca-Cola has started off brand activation. Coca-Cola is also doing the same in neighbouring markets such as Nepal, Bangladesh and Sri Lanka during the ICC Cricket World Cup, he said. "This is going to result in one of the largest investments we have ever done in Q3 and Q4 combined, in the history of our company in India," Roy said at a virtual media round table. The investment would be from Coca-Cola and its bottling arm Hindustan Coca-Cola Beverages, he added. When asked about the investments, Roy said: "<keyword id="389052" type="General" weightage="20" keywordseo="ad-spends" source="Orion">Ad spends</keyword> in the December quarter as a percentage of overall spending are 5-7 per cent higher compared to a year ago." Coca-Cola India's Advertising promotional expenses were at Rs 737.97 crore in FY22, according to the financial data accessed by the business intelligence platform Tofler. Coca-Cola, which is the exclusive non-alcoholic beverage partner of the ICC until 2023, has activated its brand Thums Up along with Limca Sportz, the hydration drink from Coca-Cola India's home-grown brand Limca, as the event is in India, he added. It is also adding Sprite, a lime-flavoured beverage, the second brand in India to breach the USD 1 billion mark in annual sales. "The ICC World Cup is in India, which is the largest sporting event in the country after almost 11-12 years. So it is very big for us... to activate our brands, our entire system and obviously ensure that we are able to leverage this big platform to continue the business momentum," Roy said. According to Roy, this is not only for "classic brand marketing investments but also the investments on shopper marketing, trade marketing, working with our customers, working with retailers or distributors. So the whole ecosystem it was important for us to activate" taking over all DME (Direct Marketing Expense) higher. It is a combined effort between two brands as "Thums Up is leading all the work in ICC World Cup and brand Coca-Cola... around the festivals" with a regional approach. Coca-Cola faced a "challenging summer" this year due to early rains but Roy said, "long-term metrics are looking very strong, therefore it was very important for us to continue investing in the business ...in our brands, so that we do not lose the momentum." Regarding the benefits, Roy said typically in the second half of a year, you do not have business expansion. But "with the ICC World Cup, especially as you go to small town and rural India, whether you can start increasing your numeric distribution from what you have had in the past, in this particular period." On the demands, Coca-Cola sees it to be "very robust" across both urban and rural. The company is optimising its demand through affordable packs, giving a quantitative push. Coca-Cola is expanding its returnable glass bottle business across parts of India, which is important to hold and ensure the market at Rs 10 and 20 price points. "We would have to optimise everything in our supply chain and work on pack mix so that your overall profitability is not going down. So Rs 10 and Rs 20 ...will continue to be important in the year 2024," he said. Besides, Coca-Cola is also a lead sponsor of Disney Star which has exclusive broadcast and media rights for linear and digital platforms of ICC Men's Cricket World Cup. It has signed for both linear and digital streaming for OTT platform Disney+ Hotstar.

Coca-Cola India's spending on brands to be highest in H2

<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul><li>Inflation has been eating into the purchasing power of lower and middle income groups with many essentials’ sales falling.</li><li>Majority of the upper and upper middle class respondents saw their household incomes go up more than inflation.</li><li>There is a dichotomy seen in online festive sales too as premium products are bought with discounts and purchase options say experts. </li></ul>There are two Indias within the great sub-continent. One where the day-breaking drink of tea has become dearer for many this year and the other half is doubling down on wine purchases. Neither of them are affected by the base effect of last year. <keyword id="2653343" type="General" weightage="20" keywordseo="tea-sales" source="Orion">Tea sales</keyword> were down last year too, and <keyword id="806378" type="General" weightage="20" keywordseo="wine-sales" source="Orion">wine sales</keyword> were up — darkening the ‘K’ line on economic recovery charts. Madan Sabnavis, the chief economist of Bank of Baroda calls it a schizophrenic pattern of consumption. “Sales are doing better in categories where price does not matter,” he tells Business Insider India. <div type="image" title="grocery demand" msid="104810160" hostid="261" caption="&amp;lt;p&amp;gt;Source: Pixabay &amp;lt;/p&amp;gt;"></div> It’s discretion not price The categories of goods where price matters are seeing low growth in output – a reflection of demand. Some of the casualties are detergent powders, groundnut oils, shampoos and hair dyes. Their output fell between April to August 2023, compared to the year before, as per BoB economics research. Inflation has a more indirect effect on these purchases. For example, tea and shampoo saw moderate inflation but their demand fell. Inflation was high in coffee, toothpaste and soaps but their demand grew. “The generalized inflation factor has been at work where real income has come down thus leading to lower purchasing power,” said BoB. In a survey conducted by UBS, about 46% of respondents said that they’re buying less personal care and packaged food compared to last year. For purchase of home care products, the respondents were largely neutral versus last year, it added. India’s largest FMCG player Hindustan Unilever with a large presence across rural and urban India has seen a direct impact of it in the quarter that ended in September 2023. Its overall urban volumes grew 3% and rural volumes fell 1%. “Rural recovery is likely to remain gradual,” the company said in its investor presentation indicating that the situation might not see any dramatic recovery in the coming months. Rural India saw reverse migration during the pandemic, but not all of them have gone back, opines Sabnavis. A chunk of downtrading is also being seen in urban areas amongst income groups that are facing the heat of inflation, experts add. At the other end This is, however, only one half of the story. At the other end, many Indians are not blinking while making discretionary purchases. A majority of the upper and middle class respondents – 65% – surveyed by UBS, saw their household incomes go up more than inflation. “The top 20% of the population account for the bulk of discretionary consumption. The survey results support our view that affluent consumers‘ income levels are holding up, as reflected in corporate wage growth that continues at double digits,” said UBS. Lalit Jhawar, co-founder and CEO, LandCraft Retail says that high-end gourmet products in urban areas have been steadily increasing over the last few years. He owns a luxury gourmet retails store- Food Square in Mumbai, which sells cheeses, truffles, caviar, artisanal breads and all the other international food items. “Affluence in urban areas has grown, resulting in a larger number of consumers with higher discretionary income,” Jhawar tells Business Insider India. Online sales: A story of dichotomy Another sign of higher spending is seen in the e-commerce festival sales. The first week of the many festival discount sales saw ₹47,000 crore worth of goods being sold, which is 19% higher than last year, says Redseer Consulting. Online sales, which now sees a good measure of metro and demand from Tier 2 and Tier 3 cities, is showing a dichotomy as well, say experts. “Two Indias have come into play where one India is saving up and waiting for prices to come down to clinch a good deal on premium products. On the other hand, there are low-value product sales i.e value-for-money purchases that are being bought more frequently,” said Abhishek Tandon, engagement manager at Redseer Strategy Consultants. The sale season, which is manna for bargain hunters, is also enthused by the number of Buy Now Pay Later and EMI options. “When it comes to big ticket purchases, premiumization is bolstered by financing options and discounts that make it affordable,” adds Tandon. In the pre-festive period between April and August,however, most consumer durable sales were in a negative zone, due to the high-base effect of last year, says Bank of Baroda’s report. Refrigerators, mobiles, readymade garments all showed a negative output – also indicating that discounts play a large role in discretionary purchases. Indian consumers have always been complicated and price has always played a big role in purchase decisions, choice of brands and more. But it’s no longer a linear story. One end of the market, driven by affluence, is veering towards premium purchases. The other end is looking for ways to survive with less in hand as inflation is eating into their purchasing power. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

Wine vs Tea: India’s consumption trends show a sharp divergence

India is celebrating <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, even as the public remains cautious about adding gold's glitter to their portfolios, given the metal's sky-high prices. <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> went past the Rs 81,000 mark today in Delhi. Per IBJA (<keyword id="20397944" type="General" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association" source="keywords">India Bullion and Jewellers Association</keyword> Ltd.), the cost of 24K gold stood at Rs 7,885/gram today, while 22K gold was priced at Rs 7,695/gram. While jewelers anticipate some increase in customer footfall today, between afternoon and late evening, the All India Gem and Jewellery Domestic Council expects sales volumes to remain steady at around 20 tons. However, per their estimates, sales this year might be down by 5% compared to last year. The <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (CAIT) projects nationwide retail trade worth Rs 50,000 crore during this Dhanteras. Even quick-commerce companies are cashing in on the Dhanteras sentiment. While Blinkit has partnered with Joyalukkas and Malabar Gold and Diamonds to deliver gold and silver coins in 10 minutes, Zepto has teamed with Augmont and Malabar for the same. Per media reports, Swiggy Instamart has partnered with Muthoot Exim and Malabar, while BigBasket has tied up with Tanishq. Legend has it that it was on this day that Lord Dhanvantari, the deity of health, appeared today, making brass utensils particularly auspicious for purchase. People also seek blessings from Lord Ganesha, Goddess Lakshmi, and Lord Kuber, and it is considered auspicious to buy gold and silver jewelry, utensils, kitchenware, vehicles, garments, and electronics on this day. <h2>The appreciation of gold</h2> Gold has had a great run this year, having a YTD (yield-to-date) of 24%. Despite high prices, the demand for gold this festive and wedding season is expected to remain buoyant in India. The yellow metal's demand as a haven has jumped up significantly in recent times, owing to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> like the ongoing Israel-Hamas conflict. Moreover, with governments across the world trying to tame inflation and boost spending by way of rate cuts, gold is increasingly being seen as an effective hedge against inflation. Experts suggest that the demand is set to remain elevated for the times to come. "The immediate outlook for gold remains robust, supported by the recent import duty reduction from 15% to 6%, which has already stirred significant market activity with imports doubling year-over-year. Despite price changes, the traditional festive and wedding seasons continue driving strong demand, with consumers adapting their purchasing patterns," says Vikas Singh, Managing Director &amp; CEO of MMTC-PAMP. "Looking ahead, multiple structural factors paint a positive long-term picture. There is an overall trend of increasing gold holdings providing sustained price support. While physical gold remains paramount, there's increasing interest in gold investments, particularly among urban consumers," he continues. <h2>How to check if your gold is pure </h2>First, always make sure to buy only hallmarked physical gold. "Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the precious metal article. Hallmarking provides consumers with third-party assurance and satisfaction that they get the right purity of gold (or silver), the government noted in a press release yesterday, urging customers to buy only <keyword id="23040621" type="General" weightage="20" keywordseo="hallmarked-gold" source="keywords">hallmarked gold</keyword> and silver. Hallmarked gold is characterized by a few specific marks, like the logo of BIS (Bureau of Indian Standards), the jeweler's mark, and that of the hallmarking center. During the process of hallmarking, each piece of gold or silver is assigned a 6-digit alphanumeric code or HUID (Hallmark Unique Identification). Download the BIS Care app on your phone and enter this code using the verify HUID icon on the app. This will help you test the veracity of your purchased gold.

Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

As the vibrant <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword> kicks off in India soon, the <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (<keyword id="20143308" type="General" weightage="20" keywordseo="CAIT" source="keywords" meta.keywordsubtype="org" meta.entityname="CAIT" meta.hostid="261" meta.entityid="CAIT">CAIT</keyword>) has set an optimistic forecast, projecting a windfall for the nation’s economy. According to a recent CNBC report, CAIT predicts that this year, an estimated 48 lakh weddings are expected to take place in November and December, potentially generating a whopping ₹6 lakh crore in business. This surge reflects not just the volume of weddings but the wide-scale economic impact that accompanies such celebrations. Weddings in India are known for their grandeur, with celebrations often spanning several days and involving a number of services, from event planning and catering to jewellery purchases and attire. CAIT’s recent prediction, thus, underscores the vital role that the wedding season plays in the retail market. In this year’s cycle, the retail sector alone is poised to see a turnover of ₹5.9 lakh crore, highlighting the deep interconnectedness between cultural traditions and economic activity. In Delhi, which stands as one of the top locations for extravagant weddings, the expected impact is particularly significant. Approximately 4.5 lakh weddings are projected in the capital city, potentially contributing around ₹1.5 lakh crore to the local economy. This surge benefits a variety of sectors, including hospitality, fashion, gold and jewellery, and even technology, as digital services and e-invitations become more prevalent. The build-up to this wedding season has already shown signs of economic revival, particularly in sectors like gold and jewellery. Suvankar Sen, MD &amp; CEO of Senco Gold, noted a marked increase in wedding-related purchases during the recent Dhanteras festival. Speaking in an interview with CNBC TV-18, Sen highlighted that the August duty cut on gold played a significant role in spurring early buying behaviour. He pointed out that this policy move helped lower the cost of gold, enticing consumers to make significant purchases ahead of the peak wedding months. "We can see at least 40-50% of the consumers who are buying right now are related to weddings, and the 40-50% who are not related to weddings, are divided amongst consumers with a budget of ₹2-3 lakh buying some kind of jewellery as an annual buying during this auspicious time. Some consumers are buying working women's jewellery or lightweight for their daughters, something within ₹50,000 to ₹1 lakh kind of buying happening. ₹20,000-30,000 is a budget consumer at all levels, some kind of a pendant, ring or earring that everyone would like to buy during this auspicious time. So, this is how we are seeing the consumer," he added. This early momentum has translated into packed showrooms and increased consumer spending, signalling a robust start to wedding-related commerce. Retailers across India are now preparing for a flurry of activity, restocking inventory and expanding service offerings to meet the anticipated demand. From wedding attire and décor to luxury items like high-end electronics and custom-made invitations, the shopping lists are extensive, promising a lucrative time for businesses. While traditional sectors such as fashion, catering, and venue rentals will see a boom, new trends have also emerged, expanding the <keyword id="23787664" type="General" weightage="20" keywordseo="wedding-economy" source="keywords">wedding economy</keyword>. The demand for eco-friendly and sustainable wedding practices has grown, with couples seeking biodegradable décor and eco-conscious catering services.

Indian weddings expected to generate ₹6 lakh crore in two months, CAIT says

<ul><li><keyword id="412367" type="General" weightage="20" keywordseo="consumer-sentiment" source="Orion">Consumer sentiment</keyword> has improved and Indians are eager to celebrate this <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>, says a survey.</li><li>Consumers are keen to splurge on luxury goods, beauty and personal care products, consumer durables and more.</li><li>With a surge in inquiries, real estate players expect 20% growth in sales this season.</li><li>Online retailers are also expected to see 18-20% in gross merchandise value. </li></ul>Indians are gearing up for the festival season that kicks off with Ganesh Chathurthi this week. As the auspicious months arrive, the real estate sector is upbeat with new launches and more, but the shadow of the monsoons lingers over automobile dealers and jewellers. This season, Indians are not shying away from high-profile purchases this festive season as the real estate sector has reported healthy inquiries – thanks to the high consumer sentiment due to heightened economic activity. “As we approach the festive season, we are already witnessing a surge in inquiries and we are expecting around 20% growth compared to last year’s festive season. This naturally offers a context for consumers to go in for their dream homes as the overall climate is geared towards sustained demand,” said Ramani Sastri, chairman &amp; MD of Sterling Developers. The demand for new homes has been growing and has hit an all-time high, and realtors expect a windfall this season, aided by growth in new launches especially in the mid and luxury categories. Rising homeownership amongst millennials, aided by the higher disposable income and willingness to upgrade to larger, luxurious spaces equipped with better amenities. “Developers are optimistic about the desire for homeownership and anticipate that with attractive schemes and offers, the uptake for homes across cities will be healthy. Further, the unchanged repo rates and the appraisal cycle that coincides with the festive season, will provide a much-needed boost to the residential sales figures in the coming months,” said Kanika Gupta Shori, founder and COO, Square Yards. Consumer goods are also expected to see traction this season, thanks to the underlying need to improve living standards combined with the surge in the need for comfort in households. “People are upgrading to a more premium lifestyle and our products, with their distinct combination of technology, ultra-modern look and cutting-edge features, will continue to find traction. The focus on launching new products, coupled with good deals and enhanced distribution, especially in the tier-2 and tier-3 cities, should help brands during the festive season ahead,” said Parag Kulkarni, senior VP-international and president, A O Smith India, who are known for their water heaters and purifiers. Better than last year The festive mood is also high for other purchases like clothes, luxury goods and more. A survey by global technology company The Trade Desk says that 70% of Indians are ready to spend more this Diwali – that’s a 35% higher than last year. The year of 2022 was one of the first festival seasons which was not masked by fear of Covid-19 in the last few years. This year, sales are expected to be better. “With the broader economy coming back to business-as-usual levels, this festive season is likely to catalyze online consumption demand,” said a report by Redseer. With regards to online shopping, the growth in gross merchandise value (GMV) of sales is expected to be 18-20% higher than what it was in the 2022 festival season – which saw a 10% growth. “The planned increase in consumer spend is led primarily by consumers’ bullish view that their financial situation has improved according to 53%, and consumers’ eagerness to celebrate a lot more this year as per 49%,” The Trade Desk says. A significant majority ie. 84% expressed interest in buying luxury goods and apparel, with 80% on gold, as per Trade Desk survey. Amongst those who plan to spend more, 68% are more likely to spend more on new clothes, the rest on food items, gifts for family and more. Within e-tailing, beauty and personal care products, home and general merchandise, fashion are expected to see high demand – with persistent premiumization. Auto and gold sales rely on rural demand for growth uptick After an upbeat August sales when sales of passenger vehicles and three-wheelers hit an all-time high, the outlook for auto sales too is upbeat. “Based on the performance of last month (August) , we are even more optimistic for demand to pick-up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August,” said Vinod Aggarwal, the president of industry body Society of Indian Automobile Manufacturers (SIAM). Two-wheeler sales, however, remained dull due to subdued rural demand on account of insufficient rainfall that could temper sales growth going ahead, as per experts. Consumer demand in this segment has remained ‘ambivalent’ according to yet another industry body Federation of Automobile Dealers Association (FADA). The monsoons have been in a deficit for most of the season, while a pick-up is expected in September. Without that pick-up, combined with low reservoir levels can have both direct and indirect effect on consumption both in rural and urban areas. Low sowing across two cropping seasons can have a devastating effect on inflation — driving down consumer sentiment across auto and other sectors. “After a prolonged period of stagnation, rural demand is showing signs of a positive resurgence. However, this recovery remains tenuous, contingent on the performance of the final phase of the monsoon season. Such developments would be particularly inopportune as they would coincide with the peak of India's festive season, notably Navratri and Deepawali, traditionally periods of heightened consumer activity,” said FADA. Jewellery sales too could be clouded by inflation, say experts, even as the yellow metal’s prices have been inching down on account of various macro economic factors. “With the start of the festive and wedding season, domestic gold demand is expected to gain impetus. However, higher inflation and weaker rural income on account of a less than ideal monsoon could potentially weigh on demand,” says Ghazal Jain, fund manager, alternative investments at Quantum Mutual Fund. Others, however, feel that consumers would be keen on addition to their physical old portfolio driven by the lower prices. Their prices have come down from a high of ₹61,750 per 10 gm in May to ₹59,000 per 10 gm currently — a healthy 20-25% drop from the recent surge. “Festive seasons have consistently witnessed a surge in physical gold demand, particularly in the realm of ornamental jewellery, as consumers seek the latest and trendiest designs. After a period of subdued festivities, the recent years have seen a resurgence in celebrations, rekindling the enthusiasm for gold,” said Jateen Trivedi, VP-research at LKP Securities. SEE ALSO <a href="https://www.businessinsider.in/careers/news/over-43-of-indian-employees-are-struggling-with-anxious-depressed-or-isolated/articleshow/103661485.cms">More than half of Indian employees are logging off from work exhausted</a> <a href="https://www.businessinsider.in/business/news/soap-opera-fmcg-players-kick-off-price-war-to-bring-back-whats-lost/articleshow/103657469.cms">Soap Opera: FMCG players kick off price war to bring back what’s lost</a>

India switches on its shopping mode as festivals approach, sales set to jump 20%

Driven by UPI-based transactions, about 81 per cent of consumers intend to shop online during this festive season in India, while one in two consumers are willing to increase their spending compared to last year, a new survey report showed on Monday. Digital payment methods are on the rise, with 42 per cent of consumers saying they will choose unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>)-for online festive shopping. In addition, 57 per cent indicated that their preferred digital payment method for earning rewards and cashback is UPI, especially during the festive season. About 75 per cent are interested in buying electronic gadgets and products (smartphones, TVs, refrigerators and ACs), luxury and authentic beauty brands, home furnishing/improvement items and consumables, online, according to the report by <keyword id="17495816" type="General" weightage="50" keywordseo="nielsen-media-india" source="Orion">Nielsen Media India</keyword>, on behalf of Amazon India. The survey said that 87 per cent of consumers in metropolitan cities and 86 per cent across tier-2 cities (population 10-40 lakh) prefer to shop online for the festive period. "We are inspired to learn that consumers this year are excited and willing to spend and shop more online. As a marketplace, we are confident that the 'Amazon Great India Festival 2023' will offer a seamless shopping experience, incredible value and the widest selection of domestic and international brands and products," said Manish Tiwary, Country Manager India Consumer Business, Amazon India. More than 70 per cent of consumers wait for online festive shopping events to purchase electronic items. Over 75 per cent of consumers are excited with attractive bank offers and no-cost EMIs for making their purchase more convenient and rewarding, said the report. Around 80 per cent consumers said online festive shopping events provide access to trendy brands for apparel, footwear, and various fashion accessories with nearly 64 per cent sharing their intent to purchase across these categories this festive season. Driven by about 140 million shoppers, India is likely to witness Rs 90,000 crore worth of online gross merchandise value (GMV) in the festive month this year. This is up 18-20 per cent from last year's festive month sales, according to a recent report by market research firm Redseer Strategy Consultants. SEE ALSO:<a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank">Shubman Gill becomes fastest to score six ODI centuries for India by a mile</a><a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank">Pixel 8 launch on Oct 4 – From camera to design specifications, what we know so far</a><a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank">Yatra Online IPO allotment – how to check allotment, GMP, listing date and more</a>

UPI set to drive festive sales this year, electronics to be top choice again: Report

Who does not love to travel? Most of us would give anything to take a long break from our regular work life and travel the world! And if the vacation rental behemoth <keyword id="19900375" type="General" weightage="20" keywordseo="Airbnb" source="keywords" meta.keywordsubtype="org" meta.entityname="Airbnb" meta.hostid="261" meta.entityid="Airbnb">Airbnb</keyword> is to be believed, Indians are taking to traveling with renewed vigor. When it comes to international travel right now, most Indians are traveling to Tokyo, largely to witness the momijgari (red leaf hunting), or the autumn tradition where leaves turn red, which makes for a breathtaking sight. For those seeking a little peace and quiet, the Amalfi Coast, off the Mediterranean Sea is in vogue. Baku, the capital of Azerbaijan and Kazakhstan are also being increasingly making their way on the travel wish list of most Indian travellers. Per Airbnb, other countries on this list include Montenegro, Norway, Luxembourg, and Georgia. Closer home, the bustling city of Kanpur in Uttar Pradesh is amongst the top travel destination for most Indians, along with the tropical Lakshadweep. People are also flocking to Ujjain and the hilly, quaint town of Munsiyari in Uttarakhand to take a well deserved break from their hectic lives. Says Vinay Bagri, Co-founder and CEO, Niyo, a travel banking platform"India’s growing middle class and increasing incomes are driving the rise in outbound travel. Additionally, India’s soft power diplomacy is shaping global travel industry trends. According to the Henley Passport Index, there are 62 countries where Indian passport holders can travel visa-free". "Niyo has seen a 60% growth in international travel over the past year. 55% among leisure travelers, 70% in student travel, and 25% in business travel. Interestingly, 40% of the customers we onboarded were first-time international travellers”, he continued. <h2>Be financially prepared</h2>But while it is great to travel, or take that dream vacation or overseas trip, setting aside money for the same can certainly be a herculean task. That's why, the key to a stress-free getaway, irrespective of it being a short break or an extended adventure, lies in making strategic investment choices. Here are some ways in which you can create a healthy corpus for your travelling, all from your savings: Creating a Vacation Budget Establish a comprehensive budget that covers expenses such as travel, currency exchange rates, time off from work, and the number of travelers. Conducting in-depth research on your destination, the best time to visit, and other relevant details can also lead to significant savings. A good idea is to plan in advance the number of vacations you wish to take each year. Deciding and booking your tickets ahead of time can help you save costs. Also, having a dedicated <keyword id="23343124" type="General" weightage="20" keywordseo="Travel-Fund" source="keywords">travel fund</keyword>, separate from your daily expenses, helps you stay focused. Consider using a fixed deposit or a liquid mutual fund to watch your money grow faster. Per Swati Bhargava, Co-Founder of CashKaro and EarnKaro, building a travel fund not only allows you to experience your dream vacation, but also fosters healthy financial habits that prevents debt and maximizes the value of your hard-earned money. Short-term Gains for Quick Access Says Bhuvan Rustagi COO &amp; Co-founder of Per Annum, "By exploring options such as recurring deposits, liquid funds and short-term bonds, individuals can enhance their financial flexibility, which can also help them plan any spontaneous adventures". Don't let your travel fund sit idle in a savings account. You can invest it in various short-term instruments, depending on your risk appetite. In case you want to play it safe, a recurring deposit or liquid funds are a good option. For people willing to take on more risk, P2P lending can also be a good option. Automate your way By setting up recurring transfers from your primary account to a dedicated travel savings account, you can ensure that a portion of your income is automatically saved each month. This disciplined approach will eliminates the temptation to spend impulsively, and will also help you stay committed to your travel goals. During the festive season, which will set in from next month, most online platforms, websites, and aggregators abound with enticing discounts on flights and hotels. Keep a keen eye on these deals, and you can significantly reduce travel expenses and plan your trip more efficiently. During the sales, travel portals often offer exclusive discounts tied to specific banks or release flash sales. That is also a great way to maximize your savings on travel. Many Indians are also turning to <keyword id="23343125" type="General" weightage="20" keywordseo="Cashback-Platforms" source="keywords">cashback platforms</keyword> to maximize their savings on travel bookings. According to reports, the travel sector sees an average cashback rate of 8%, the highest of all sectors. Further clubbed with credit cards you save a lot more on your hotels &amp; flights. No wonder, travel credit cards emerged as the frontrunners, experiencing a remarkable 27% YoY growth in 2023. "For those planning a festive season getaway, combining multiple offers can lead to substantial savings, making your dream destination more affordable”, continues Bhargava So, what are you waiting for? Start planning your next travel destination now. With smart investments and budgeting, it might happen for you, sooner than you think!

You Searched For "festive spending india" and got 12 results

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Simply Put: From Dal to Dolce—India is loving its luxury life

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Wine vs Tea: India’s consumption trends show a sharp divergence

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Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

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