SRINAGAR: India’s consumption landscape is evolving rapidly, with spending patterns increasingly reflecting aspirational lifestyle, digital-first transactions, and greater adoption of flexible payment options. Over the past decade, rising incomes, expanding urbanisation, and an increasingly aspirational middle class, have reshaped how and where people spend. With around 118.6 million credit cards in circulation and over ₹23.62 trillion credit card spends during FY’26, the ecosystem is witnessing a clear shift from expansion to utilisation.
Insights from SBI Card, India’s largest pure-play credit card player, indicates that credit card customers are spending more on experiences and lifestyle categories alongside necessities, while also increasingly leveraging digital platforms.
Evolving Customer Behaviour
Supported by rising incomes and exposure, spending behaviour of Indian customers is becoming increasingly aspirational, and experience-driven, highlighting a shift towards customer’s capacity for discretionary expenditure. SBI Card’s FY’26 data indicates that retail spends reached the highest ever level of over ₹3.54 trillion, with a 15% growth YoY. Online spends contributed nearly 62.5% in retail spends, reflecting the growing inclination for digital-first consumption across both non-discretionary and discretionary categories.
Hyper-personalised, seamless experiences, and self-service-led digital platforms are becoming integral to driving deeper customer engagement and convenience. As per SBI Card, millions of customers are frequently leveraging SBI Card’s digital platforms such SBI Card mobile app, Live Chat integrated Ask ILA chatbot, WhatsApp Service, for their varied needs, from applying for a new card to query resolution. Today, SBI Card mobile app enjoys a strong 4.6 and 4.5 rating on google play and app store, respectively, owing to its focus on enhanced customer experience.
Commenting on the evolving credit card ecosystem in India, Salila Pande, MD & CEO, SBI Card, said, “Rising income and aspirations, progressive policies, digitisation, and growing payments infrastructure, is reshaping credit card transactions. Customers are increasingly gravitating towards experiences, lifestyle-driven purchases, and seamless everyday transactions, reflecting a more confident and evolving mindset. At SBI Card, we remain focussed on further strengthening our product portfolio through meaningful partnerships and innovation, to address these evolving needs, while contributing to India’s thriving digital payments landscape.”