Visa (NYSE: V), a global leader in digital payments, has unveiled its Visa Consulting and Analytics (VCA) Whitepaper - India’s Affluent Economy 2025- 2026. The VCA Whitepaper decodes the behaviour of Indians and how they use credit cards in travel, dining, retail, lifestyle, among others.
The report said that discretionary categories account for a larger share of credit card spending, underscoring the role of credit cards as primary enablers of bespoke lifestyle spending.
Key Highlights from the report:
Credit cards are the primary instrument empowering the growing Indian affluent cohort enabling access to the premium products and exclusive experiences they seek, the report said.
Luxury is moving from ownership to access:
- Over 50% of affluent consumers use cards for elite memberships, and 7 in 10 are drawn to limited edition drops and gated collections.
- Status today comes from belonging, curation, and seamless access, not just visible possessions. For example: Consumers increasingly prefer concierge led travel, or curated dining experiences and only through trusted intermediaries because the real premium is time saved and effort removed.
Luxury retail intensity increases:
- The report shows that 2 in 5 affluent consumers spend over Rs 5 lakh annually on luxury retail, and 4 in 1 exceed Rs 10 lakh in annual luxury spending.
Technology as lifestyle:
- Technology is increasingly becoming a lifestyle category, with average spends of Rs 60,000 or more per visit on high-end gadgets, and 2 in 5 Ultra Elite consumers treating technology as a luxury purchase.
Wellness becomes routine:
- Ultra Elite consumers are eight times more likely to visit spas and show five times higher penetration for cosmetic stores compared to non affluent consumers.
Travel as the primary driver of affluent spending:
- Among the Ultra Elite, travel accounts for 58% of discretionary spends, while retail and luxury together account for 28%, indicating a strong tilt toward experience led consumption.
Global spending rises with affluence:
- Cross border spending penetration in elite tiers is at 63%
Dining becomes frequent:
- Nearly 4 in 5 affluent Indians dine at premium establishments at least three times a year, while 1 in 4 visit luxury venues more than five times annually.
- An annual dining spend marker of around Rs 2 lakh, with Rs 20,000 emerging as a new spend floor per experience and Rs 50,000 cited as a premium benchmark.
Retail turns selective:
- 3 in 4 affluent consumers make a high-end retail purchase at least once every quarter, while 1 in 4 buys something premium every two weeks.
