Retail in Asia

In Markets

Indian consumers spend INR20,000 per year on unaccounted purchases

A majority of Indian consumers find it hard to keep track of every penny spent while shopping or during leisure time, leading to "mystery spending" of INR20,000 per year, according to a survey done by payment technology firm Visa.

Moreover, younger adults between the ages of 18-24 claim to lose track of almost INR24,000 annually, 20 percent more than the average amount, it added.

Around 73 percent of consumers believe that making lots of small cash purchases make it hard to track spending.