{"id":1286764,"date":"2024-10-27T11:39:59","date_gmt":"2024-10-27T06:09:59","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1286764"},"modified":"2024-10-27T11:40:21","modified_gmt":"2024-10-27T06:10:21","slug":"rural-india-spends-more-during-festivals-compared-to-urban-india","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/rural-india-spends-more-during-festivals-compared-to-urban-india\/","title":{"rendered":"Rural India Spends More During Festivals, Compared To Urban India"},"content":{"rendered":"\n<p>Rural consumers\u2019 spending has increased by 35%, demonstrating their increasing purchasing power and impact on the growth of overall consumption during the holiday season.<\/p>\n\n\n\n<p>Increased consumer confidence in India is driving a boom in spending, according to a survey by InsightCrunch based on more than 4,500 interviews conducted in 16 states.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"553\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-27-at-11.38.53\u202fAM-1024x553.png\" alt=\"Rural India Spends More During Festivals, Compared To Urban India\" class=\"wp-image-1286767\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-27-at-11.38.53\u202fAM-1024x553.png 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-27-at-11.38.53\u202fAM-300x162.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-27-at-11.38.53\u202fAM-768x415.png 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-27-at-11.38.53\u202fAM-1536x830.png 1536w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-27-at-11.38.53\u202fAM.png 2036w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Read on to find out all the details!<\/p>\n\n\n\n<p><strong>Rural Consumers\u2019 Spending Increases by 35%<\/strong><\/p>\n\n\n\n<p>The average amount spent by rural customers has increased by <a href=\"https:\/\/www.aninews.in\/news\/business\/rural-spending-rises-by-35-per-cent-outperforming-urban-and-metro-areas-in-2024-festival-expenditure20241023170849\/#:~:text=While%20average%20overall%20spending%20per,32%25%20from%20the%20previous%20year\">35% from the previous year to Rs. 15,119.<\/a><\/p>\n\n\n\n<p>While metro dwellers spend an average of Rs. 21,151, a 33% increase year over year, urban dwellers spend an average of Rs. 18,317, a 30% increase.<\/p>\n\n\n\n<p>The spending landscape is changing, as evidenced by the fact that rural spending is increasing more quickly even though metro inhabitants spend 40% more per capita than rural consumers.<\/p>\n\n\n\n<p>With unrealized potential in rural markets, Deekshith Vemuganti, CEO of InsightCrunch, observes that the surge in rural spending is a reflection of India&#8217;s changing economic situation.<\/p>\n\n\n\n<p>He states, \u201cThe rise in rural spending is a testament to the evolving economic landscape in India. The untapped potential in rural markets is being realised this festive season.\u201d<\/p>\n\n\n\n<p><strong>Overall Spending Increased by 32%<\/strong><\/p>\n\n\n\n<p>A third of the population spends less than Rs. 5,000, and another third spends between Rs. 5,000 and Rs. 15,000, with the average per capita spending being Rs. 17,654.<\/p>\n\n\n\n<p>Overall, compared to the prior year, spending has climbed by 32%.<\/p>\n\n\n\n<p>Driven by optimism in the Indian economy, almost 65% of customers are financing their festival purchases with savings.<\/p>\n\n\n\n<p>Due to increased spending pressure, middle-class households are three times more likely than lower-class ones to depend on bank loans to cover festival costs.<\/p>\n\n\n\n<p>Financial institutions, retailers, and fast-moving consumer goods (FMCG) companies can utilize this data to customize their products and marketing campaigns for middle-class consumers, who are more likely to use credit for purchases, according to Sudhanshu Gupta, VP of InsightCrunch.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.villagesquare.in\/when-it-rains-it-pours-festivals-in-july\/\">Image Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rural consumers\u2019 spending has increased by 35%, demonstrating their increasing purchasing power and impact on the growth of overall consumption during the holiday season. Increased consumer confidence in India is driving a boom in spending, according to a survey by InsightCrunch based on more than 4,500 interviews conducted in 16 states. Read on to find [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1286767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1976,6381],"class_list":["post-1286764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-rural-india","tag-urban-india"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rural India Spends More During Festivals, Compared To Urban India - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/rural-india-spends-more-during-festivals-compared-to-urban-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rural India Spends More During Festivals, Compared To Urban India - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Rural consumers\u2019 spending has increased by 35%, demonstrating their increasing purchasing power and impact on the growth of overall consumption during the holiday season. 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