Working people living in cities may spend carefully throughout the week, but as the weekend approaches, their pockets start getting loose rapidly. According to the latest data from The Many Urban Indias, a joint report by People Research on India's Consumer Economy (PRICE) and Tata Sons, urban consumers spend about 61.5% of the money they spend in the entire week only in the 48 hours of Saturday and Sunday i.e. weekend.
According to the report, an average consumer living in cities spends an average of Rs 6,724 on daily needs and other things from Monday to Friday. At the same time, on Saturday and Sunday his average expenditure increases to Rs 10,732. Statistics show that on weekends, people spend more money on travel, entertainment and lifestyle related things rather than on essential items. In such a situation, the question arises that on what things and where does urban India spend the most money during weekends.
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Where is urban India spending its weekends?
During the weekend, people are spending most of their money on whatever they want. According to the report, the expenditure on purchasing fashion and clothes on weekends increases by 2.03 times to Rs 1,075 as compared to normal days. At the same time, on weekdays people spend an average of Rs 529 on this.
Similarly, expenditure on films and entertainment increases by 2.02 times from Rs 328 to Rs 662. Expenditure on electronics also increases by about 1.99 times from Rs 350 to Rs 695. The expenditure on eating out or food delivery increases by 1.83 times from Rs 525 to Rs 959. At the same time, there is not such a huge increase in expenditure on everyday essentials. The expenditure on grocery has increased by 1.64 times and the expenditure on healthcare has increased by 1.54 times.
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Where do people spend the most on weekends?
The way of spending weekends varies greatly across cities. Rajasthan's capital Jaipur leads the country with a weekend multiplier of 2.76 times. After this, Surat is with 2.44 times, Pune with 2.19 times and Kochi with 2.04 times. Western India is the highest spending region over the weekend with an average of 1.82 times.
Whereas Dhanbad of Jharkhand is the only city in the country where this figure is 0.92 times. That means people in Dhanbad spend more money on working days than on weekends.
Income and lifestyle decide weekend expenses
Data also shows that as people's income increases, their spending on weekends also increases rapidly. People whose monthly income is more than Rs 1 lakh spend an average of Rs 8,622 on weekdays, while their expenditure increases to Rs 21,779 on weekends. That means they spend about 2.53 times more on weekends than on normal days. According to the report, this habit of spending more on weekends was most seen among women, more educated families and those families where both husband and wife earn.