Who would have thought that the harmless
snack you gobble up in canteen or / leisure shopping could add up to an
annual drainage of Rs. 93,000 a year?
According to a recent survey on spending
patterns conducted by YouGov and Visa, Indians lose about 60% of their
weekly expense of Rs. 3,260, to mystery spends. That is mystery spends Rs. 1,943 per week.
Or per month Rs.7,772 or per month year Rs. 93,264
Mystery spend is the unaccounted
for spending in the household budget. The survey was conducted among Indians
residing in metros with a monthly income of Rs. 15,000 or more.
The biggest
black hole is
snacks, which
comprises 65% of the mystery spending,
followed by food
and groceries (48%),
leisure
shopping (48%),
coffee
breaks (43%) and
entertainment
like night-outs, movies and parties (40%).
This means that
Indian consumers are spending Rs. 65,000 a year on buying snacks alone.
Another
important and expected finding is that the younger generation, in the age group
of 25 to 34 years, is using a higher proportion of cash for their mystery
spends.
Among the Asian
markets, India came in third with 60% weekly mystery spend, the top spot being
taken by Thailand at 72%, followed by China at 66%.
The study was
conducted across Australia, Hong Kong, India, Indonesia, Japan, Korea, Mainland
China, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and
Vietnam.
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