India sees rise in luxury spending: Survey

This growing interest in luxury items emerges in a context where overall household spending has increased for 58 per cent of families, while remaining steady for 35 per cent. The net score for household spending is reported at 50, mirroring last month's figures.

The December net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at 10.3, which is an increase of 0.3 from the last month.

“As we start the New Year, our findings offer a lens into the dynamic interplay of consumer choices and financial strategies. The festive period, with its unique blend of luxury spending and economical choices, reflects a complex yet telling narrative about our society's financial adaptability and prudence. This nuanced approach to consumption indicates a deepening awareness among individuals and families of the need to balance present enjoyment with future security,” said Pradeep Gupta, chairman and MD, Axis My India.

ALCHEMPro News Desk (DP)