E-commerce spends surpassed pre-Covid-19 levels after the lockdown across Delhi, Mumbai and Bengaluru as more individuals opted to shop online for their discretionary and non-discretionary spends, according to a report by credit card bill payment platform CRED.
The report is based on an analysis of credit card spending patterns of over three million members across the three cities. The data takes
February 2020 spending as a baseline and compares it to spends in subsequent months under which the lockdown and unlock time periods fall, said the report.
CRED said there were two topline insights gathered from the study.
The study was done to understand larger trends reflected in spending behaviour of affluent consumers pre-, during and post the lockdown.
More individuals opted to shop online for their discretionary and non-discretionary spends during the lockdown but have continued after the lockdown as well, indicating a larger behavioural trend, the report said.
Sharp spikes were recorded in online grocery and e-commerce surpassing even pre-COVID-19 levels, while spending on physical grocery and shopping fell substantially.
"E-commerce spends surpassed pre-Covid-19 levels post the lockdown across all three cities. Delhi spend grew to 135 per cent, while Mumbai was at 133 per cent and Bengaluru at 124 per cent," CRED said.
