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Akshaya Tritiya, which was celebrated on Monday, saw a high number of transactions in jewellery outlets, with a 300% increase in the transaction volumes and a 256% increase in spends in these stores, according to Atos Worldline India, a leading payments processor in the country.
The value of card-based transactions across the country rose 37% above average.
Amongst the metros, the shopping impact was most visible in Bangalore with an increase in value at a phenomenal 59% and an increase of 11% in the transactions volume.
Mumbai saw a higher transaction volume at 20%, and a 33% increase in spends.
According to Jean Pascal Duvet, CEO, Atos Worldline India, “The overall ticket size grew by 24%, indicating that there was a growth in all segments on the festival day. However, the spike is lower than what has been witnessed in previous years, when the jewellery purchases increase by over 500%. One explanation could be that due to the recent fluctuation in gold prices, investors are less enthusiastic to purchase gold in the uncertain price environment.”
