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Jewellery spends rose over 350% on Akshaya Tritiya: Worldline India

India Infoline News Service | Mumbai |

The overall increase in value of transactions across the country was higher by about 65%.

Akshaya Tritiya, which was celebrated on the 2nd May, saw a tremendous surge in card based transactions across the country. With jewellery purchases considered auspicious on the day, spends in this segment were 350% higher than average, based on research by Worldline India, the leading payments processor in the country.

The overall increase in value of transactions across the country was higher by about 65%. Amongst the metros, Bangalore and Mumbai led the way with an 89% and 65% increase in overall card spends on the day. Both cities registered a growth of over 500% in spends in the jewellery segment.

According to Deepak Chandnani, CEO, Worldline India and South Asia, “The festival saw a robust growth in not only jewellery but other high ticket segments as well, with categories like electronics and consumer durables growing by more than 50%. The growth in the jewellery segment was higher than last year, but still remains below the 500% growth witnessed a couple of years ago, probably owing to the uncertainty around gold prices.”
 

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