Is it the economy doing well? Or is it the newer gens over-spending? Or something else?
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Canāt say overspending for sure. Bcoz salaries have increased a lot in general. Jobs might be less but I didnāt see a lot of downtrend in salaries offered.
RadioactiveDino
Stealth
a year ago
My guess is the payment method has simply changed rather than increased spending. Whatever shopping was done with debit cards / UPI / cash earlier is now done with CC for the reward points, no cost EMI or discounts.
aanhserk
Stealth
a year ago
Some percentage of these spends are moving from informal to formal economy. Not that bad.
Lol ! When I read it yesterday my jaw dropped. It's mostly over spending. iPhones, belanciaga, Gucci bags, make-up, high rent , and what not. Foreign trips. Long list.