Ahmedabad witnessed a 35% rise in offline spending per user,

with majority transactions electronics, grocery and apparel, reveals Kiwi’s data

Credit on UPI Powers India’s Festive Spending Surge, Fuelling Local Shopping and Offline Purchases

Ahmedabad, 7th November 2024 – This festive season, Indian shoppers demonstrated a strong preference for offline purchases, with a 30% increase in spend-per-user, as revealed by Kiwi, India’s first platform for credit purchases via UPI. Kiwi’s data reflects how communities came together to support local merchants and neighbourhood stores, with the majority of transactions taking place in small, local shops and general stores—a timely boost for India’s local retail sector during Dhanteras and Diwali. In Ahmedabad, the majority of transactions focused on electronics, grocery, and apparel, reflecting local consumer preferences for essential and lifestyle categories.

Local stores and merchants were at the heart of the festive shopping spirit, with General Stores alone seeing an impressive 55% jump in spends. Jewellery purchases, a Diwali tradition, rose by 17%, while other categories like Groceries, Dining, and Electronics also saw a rise, with spend-per-user up by 24%, 18%, and 24% respectively. This broad pattern of spending shows the diverse needs of Indian shoppers as they prepare for celebrations, all while choosing to shop locally.

Neighbourhood merchants benefited greatly, with spend-per-user at small stores growing by 31% in Tier-1 cities and by 29% in Tier-2 cities, much higher than the increases seen at larger retailers, which saw a 23% rise in Tier-1 and 17% in Tier-2 cities. This festive season, consumers clearly felt a pull to support small businesses within their communities.

Distinct spending habits were also visible across regions. In Tier-1 cities, shoppers spent more on experiences, with Dining up by 22% and Jewellery by 18%. In contrast, Tier-2 cities leaned towards essentials, with Electronics purchases increasing by 41% and General Store spending seeing a substantial 64% rise.

“Credit on UPI is truly a made-in-India solution that connects consumers with local businesses in ways that feel both seamless and meaningful,” said Mohit Bedi, Co-founder of Kiwi. “This festive season, we saw the spirit of community shine through as people shopped at small merchants and enjoyed the freedom and flexibility that Credit on UPI brings.”

With data gathered from 400 cities and a user base of 1 lakh, Kiwi’s Credit on UPI continues to bring the festive spirit to life by making shopping more convenient and helping consumers celebrate with their communities across

About Kiwi

Kiwi is one of India’s leading FinTech companies transforming India’s credit card landscape. As an NPCI-certified entity (TPAP license), Kiwi was the first app in India to offer customers the opportunity to experience “Credit on UPI” through its partnership with banks to issue RuPay Credit Cards. The company aims to disrupt the credit card industry by becoming the leading issuer of RuPay Credit Cards by 2026. Kiwi is currently in the Series-A stage and has raised a total of $19 million from investors like Omidyar Network India. Nexus Venture Partners, Stellaris Venture Partners, and a host of angel investors.