How People In India Spend Extra Money

How People In India Spend Extra Money

There are reasons for people in India spend money more sometimes and sometimes they don’t. The western culture is different they do so according to their budget but they do enjoy a lot spending more in the weekends. The gulf people and the people from different Muslim countries also spend money in whatever way they like to. Here it’s good for businesses to know how people in India spend extra money? India is divided in different communities including all casts and religions having their own way of spending a bit extra. The way how people in India spend extra money on different occasions speak something for businesses to know in some detail.

So, money spent more on a day to day basis always benefit economy and growth. If we divide people in India on the basis of religions, then there’s nothing wrong, economically. Hindus, Muslims, Sikhs and Christians spend some extra money that they don’t need to, but differently. Hindus spend extra money in foreign holiday trips, and they do spend money in their festivals. Spending money on festivals is occasional. Muslims, Sikhs and Christians also spend money in their festivals. Day to day spending for what purpose and how people in India spend extra money needs to be known. Daily extra money spent by people in India decreased more since 2019. People spending money on essentials.

Businesses need to target people in India in the first and second week of the month. Also during the festivals.

Money Spending & Businesses

However, on an average daily extra money spent by middle class and the higher middle class has been something bothering. The extra money spent regularly benefits the economy, but even the higher middle class in India can’t afford something extra. There are about 20% of middle class and higher middle class in India, who spend extra money in their days. One day they spend some extra and then they try to keep away from spending anymore in their entire month. In the end, during the last week of every month, mostly 60% of India never spend any extra. This last week of the month not worrying for people, who own credit cards.

Attractive discounts and offers like buy 1 get 1 free should be played in the first and second week of the month. Businesses often have not much patience to wait and see what comes next. They can’t wait and in desperation for customers to visit their businesses during last two weeks, businesses do not maintain quality. Quality management is the best subject to learn for businesses in order to keep attracting customers. Mid-level businesses can’t cope with a week’s dull business every month. The reason is they don’t target people on community to community basis and they’ve to bear losses in the month’s last week.

While businesses also should know how people in India spend extra money, they need to apply basics of running successful business. You can see many businesses shutdown in India because of no better quality management. Hundreds of businesses in India shutdown everyday. Some businesses do shutdown because they change their businesses of selling something to selling something else.

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