Indians lose Rs. 93,000 a year to mystery spending...!

Who would have thought that the harmless snack you gobble up in canteen or /  leisure shopping could add up to an annual drainage of Rs. 93,000 a year?

According to a recent survey on spending patterns conducted by YouGov and Visa, Indians lose about  60% of their weekly expense of Rs. 3,260, to mystery spends. That is mystery spends Rs. 1,943 per week. Or per month Rs.7,772 or per month year Rs. 93,264

Mystery spend is the unaccounted for spending in the household budget. The survey was conducted among Indians residing in metros with a monthly income of Rs. 15,000 or more.



The biggest black hole is 

snacks, which comprises 65% of the mystery spending,

followed by food and groceries (48%),

 leisure shopping (48%),

 coffee breaks (43%) and

 entertainment like night-outs, movies and parties (40%). 

This means that Indian consumers are spending Rs. 65,000 a year on buying snacks alone.

Another important and expected finding is that the younger generation, in the age group of 25 to 34 years, is using a higher proportion of cash for their mystery spends.

Among the Asian markets, India came in third with 60% weekly mystery spend, the top spot being taken by Thailand at 72%, followed by China at 66%. 

The study was conducted across Australia, Hong Kong, India, Indonesia, Japan, Korea, Mainland China, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam.



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