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Highest among the surveyed countries, 75 per cent of Indians want to plan a holiday event for family and/or friends this holiday season, according to the Amex Trendex, a trend report from American Express.
While 82 per cent of Indian adults and 83 per cent of Indian GenZers and millennials are planning to celebrate the holiday season with family, 67 per cent of Indian respondents want to attend cultural events, including holidays, parades and festivals, this holiday season.
Sanjay Khanna, CEO, American Express Banking Corp India, said: “We see two strong shifts in the Indian consumer’s spending patterns this holiday season. One, there is higher indulgence in experiences they would like to share with family and friends and, two, there is a shift towards more thoughtful gifting like sustainable products from local brands, thereby supporting smaller entrepreneurs or local shop owners”.
“Our Amex Trendex report indicates that a majority of the respondents have expressed their intention to spend their holiday season by experiencing at least one event,” he added.
The Amex Trendex is a trend index that tracks how consumers, small businesses and merchants are feeling about spending, saving, traveling and more. Data is sourced on a monthly basis in the US and biannually globally, including in UK, Australia, Japan, Mexico, India and Canada.
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