The survey, which included 700 credit card users, found that 80% took advantage of special credit card offers available on e-commerce platforms. The main attractions were discounts, no-cost EMI options, and better deals overall.
This trend started earlier in the year. In April, online credit card spending was Rs 94,516 crore, which was 60% of the total Rs 1,56,498 crore spent. The portion of online spending grew to 63.4% in July, dipped slightly to 62.4% in August, and then reached 65.3% in September.
According to ToI’s report (by Mayur Shetty), e-commerce platforms like Flipkart and Amazon saw a surge in sales, especially for mobile phones and electronics. This growth aligns with increased online shopping during the festive season, which started in September.
Datum Intelligence, a data analysis firm, estimates that e-commerce sales in September and October reached about $12 billion. This is a 23% increase compared to the previous year.
While more money is being spent online, the number of online transactions is still lower than in-person transactions. However, a survey by Paisabazaar highlights why many shoppers prefer online platforms. “80% of users found more value in online shopping during the festive season,” a Paisabazaar survey showed.
