Hyderabad’s spends have gone up from 16 percent (2013) to 52 percent (2018) and we spent 52 percent on electronics in 2018 followed by 38 percent on luxury retail and the least on jewellery.
For the electronic city Hyderabad, electronics spend grew from 16 percent in 2013 to 52 percent in 2018. 68 percent of the luxury spends by Hyderabad were done on weekdays! These were the findings by American Express, the world’s largest card issuer by purchase volume, recently analysed the spending at premium and luxury merchants across in the country. Th findings provided rich insights into the spending and purchase behaviour of affluent customers across the country. The report covering over 600 merchants finds jewellery, electronics, high-end fashion (apparel and accessories) and luxury retail to be the top categories of engagement for Indian affluent. The analysis also observed a seasonality associated with luxury spending, as transactions spike during the festive and year-end travel season from October to December.Hyderabad showed some interesting trends in this matter.
Growth in luxury spending beyond the three metros (Delhi, Mumbai and Bangalore) – Kolkata, Chennai, Pune and Hyderabad, have emerged as new centres of luxury consumption, the study noted.
Courtesy - The Indian Express
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