Festival demand in November drove the value of in-store credit card purchases to 109% of pre-Covid (January 2020) levels. The growth was driven by big-ticket purchases as the number of transactions continued to be at 71% of January 2020 levels. According to data collated by Pine Labs, which deploys card swipe machines in stores, purchase of apparels and spending in restaurants, which suffered the most in the first quarter bounced back in November. However, restaurant spends are still only 66% of pre-Covid levels. Similarly, apparels & footwear grew 112% in November from the pre-Covid average but were still at 81% of pre-Covid levels.
Jan 15, 2021, 04:31PM ISTSource: TOI.in