MUMBAI: Looks like this Diwali, Indians didn’t just light up their homes, they swiped their way to sparkle too. A new survey by Paisabazaar reveals that over 42 per cent of credit card users spent upwards of Rs 50,000 on festive shopping this year, signalling that big-ticket buying is firmly back in fashion.
The festive cheer wasn’t limited to diyas and discounts, it spread right across credit limits. About 22 per cent of respondents spent between Rs 50,000 and Rs 1 lakh, while one in five splurged over Rs 1 lakh on their cards during Diwali. The survey, which covered over 2,300 users, paints a clear picture of India’s growing comfort with credit as a strategic spending tool.
When it came to what they bought, home appliances topped the wishlist at 25 per cent, followed by mobiles, gadgets and accessories at 23 per cent, and apparel at 22 per cent. Furniture and décor made up 18 per cent of spends, while gold and jewellery accounted for 12 per cent proof that both sparkle and substance drove shopping choices this season.
But it wasn’t all impulse. The study revealed that 91 per cent of shoppers planned their purchases around card-specific offers and festive deals. Less than 10 per cent relied solely on their card’s standard cashback or reward structure. Clearly, today’s consumers are not just shopping, they’re strategising.
“Consumers are using credit cards more intelligently, timing their high-value purchases with festive offers and card-linked deals,” said Paisabazaar CEO Santosh Agarwal. “This growing financial awareness shows how value and convenience are driving credit card use.”
The benefits are paying off too. Nearly 71 per cent of respondents owned shopping-specific credit cards that offered cashback or festive rewards, while 15 per cent received seasonal deals even without such cards. For many, cashback remained the biggest draw chosen by 20 per cent of users followed closely by co-branded offers (19 per cent) and accelerated reward points (18 per cent).
Among those opting for EMIs, No-Cost EMI emerged as the clear winner, attracting 56 per cent of users, while 29 per cent chose EMIs to unlock extra discounts and 10 per cent used them simply to spread payments more comfortably.
Interestingly, shoppers were equally at home online and offline 48 per cent said they preferred a mix of both. The hunt for better deals drove most of them to e-commerce giants, with 83 per cent claiming they found the best discounts on platforms like Amazon and Flipkart. Together, the two dominated with a 43 per cent preference rate, followed by Myntra (15 per cent), Meesho (10 per cent), and other platforms such as Ajio, Nykaa, Zepto and Tata Cliq accounting for 32 per cent collectively.
Paisabazaar, head of credit cards Rohit Chhibbar summed it up aptly: “This festive season marked the rise of the value-savvy shopper, one who plans, compares, and capitalises on every offer. Cashback, rewards, and no-cost EMIs have made credit cards indispensable for festive spending.”
In short, this Diwali, shoppers didn’t just chase lights, they chased the right swipes.
