The research is based on digital payment trends analysis across multiple merchants and banks
Wibmo, Indian payments provider, conducted research revealing online shopping behavior and drivers among Indian consumers.
- Indians have so-called ‘happy shopping hours’ meaning that the biggest number of transactions are done from 7:00 PM to 8:00 PM. This contributes to 7.2% of the total digital payments.
- Flash sales are driving shopping among Indians consumers. In March, there was a boost of 8% in the number of transactions as compared to August. This implies that shopping is not limited to festive season anymore.
- Mobile commerce takes a bigger share of the digital payments pie. Mobile transactions account for 86% whereas desktops and laptops account for only 14%.
- Although transaction frequency is driven by flash sales, ticket size isn’t. On average the highest ticket size for one month was nearly $37,60 in August and the lowest was around $22,75 in April.
- As to the spendings by categories, 55% of Indians pay for bills and utilities, whereas 12% purchase games and entertainment. Web services and healthcare are paid the least, with 1% and 0%, respectively.
- As to the cross-border payments, the top 3 currencies in which Indians are transacting include Pound Sterling, Euro, and USD.
- The average spending on the credit card is nearly 95% more than the average spends on the debit card.