Stories
Credit Card Spending Drops 8 Percent During First Week of Online Festive Sales
- •Credit card transaction value fell to Rs 37,385 crore during the first week of online sales compared to Rs 40,652 crore last year.
- •Transaction volume increased by 8 percent, rising to 491 lakh transactions from 453 lakh during the same period in 2025.
- •Experts note that higher prices, weaker discounts on electronics, and quick commerce platforms are shifting consumer spending patterns.
- •Average transaction values fell 15 percent as consumers postponed big-ticket purchases and made smaller, spread-out buys.
Key Questions Answered
Credit card transaction value during the first week of festive sales from October 8 to October 14, 2026, stood at Rs 37,385 crore, which is 8 percent lower than the Rs 40,652 crore recorded during the same period in 2025. However, transaction volume increased by 8 percent to reach 491 lakh transactions in 2026, up from 453 lakh transactions during the 2025 sales event.
The average transaction value dropped by 15 percent in 2026 compared to the previous year. Industry experts attribute this decline to higher prices and weaker discounts for electronics and home appliances, which discouraged big-ticket purchases and led consumers to make smaller purchases spread over a longer period.
UPI experienced a minor uptick, processing over 870 million transactions on October 8 and 9, 2026, but its growth was only marginally higher by 4 percent compared to the previous day. Unlike credit cards which typically see double their average daily volume and value during sales, UPI only reports marginal growth because of its massive scale.
