India's Affluent Consumers Shift Toward Experience-Driven Spending, New Visa Report Shows

Visa has released a comprehensive whitepaper examining consumption trends among India's affluent segment, shedding light on how high-income earners are reshaping their spending habits across the country.

The Visa Consulting and Analytics (VCA) Whitepaper – India's Affluent Economy 2025-2026 approaches affluence through a behavioural lens rather than focusing solely on income levels. Combining data from a YouGov study commissioned by Visa with transaction insights from Visa-Net covering travel, dining, retail and lifestyle sectors, the report traces how prosperity is altering purchasing decisions nationwide.

A Growing and Evolving Affluent Base

The most striking finding concerns the scale of India's affluent population. The number of individuals earning over ₹10 lakh annually has more than doubled, jumping from 69 lakh to 130 lakh, indicating a substantially expanded consumer base with capacity to spend on discretionary categories.

Notably, affluence is no longer confined to traditional financial hubs. Emerging cities including Ahmedabad, Surat, Jaipur and Lucknow are witnessing consumption patterns that mirror those of established metros like Mumbai, Delhi and Bengaluru.

From Ownership to Membership

The report identifies a fundamental shift in how affluent consumers perceive luxury. More than 50% utilise credit cards for elite memberships, while 7 in 10 are attracted to limited-edition releases and exclusive collections. The emphasis has moved from acquiring visible possessions to gaining access to curated experiences and time-saving services.

Affluent consumers increasingly favour concierge-managed travel arrangements and carefully curated dining experiences through trusted intermediaries, prioritising convenience and effort reduction over traditional status symbols.

Spending Patterns Across Categories

Luxury retail remains significant, with 2 in 5 affluent consumers spending over ₹5 lakh annually on high-end shopping, while 4 in 10 exceed ₹10 lakh yearly. Technology has emerged as a lifestyle category itself, with consumers spending ₹60,000 or more per visit on premium gadgets. Among the Ultra Elite tier, 2 in 5 treat technology purchases as luxury acquisitions.

Wellness and self-care show pronounced growth, with Ultra Elite consumers eight times more likely to visit spas and five times more likely to frequent cosmetic stores compared to non-affluent segments.

Experience-Led Consumption Takes Centre Stage

Travel dominates discretionary spending among the Ultra Elite, accounting for 58% of such expenditure, while retail and luxury combined represent 28%, underscoring a preference for experiential consumption.

Premium dining has become a regular activity, with nearly 4 in 5 affluent Indians visiting upscale restaurants at least three times annually, and 1 in 4 frequenting luxury venues more than five times yearly. The report identifies ₹2 lakh as an annual dining benchmark, with ₹20,000 establishing a new baseline per meal and ₹50,000 representing a premium threshold.

High-end retail purchases follow a similar cadence, with 3 in 4 affluent consumers making premium purchases quarterly, while 1 in 4 shops for luxury goods fortnightly.

Cross-border spending penetration reaches 63% among elite consumer tiers, reflecting growing international consumption.

Shifting Consumer Philosophy

According to Sushmit Nath, Head of Visa Consulting & Analytics for India and South Asia, the data reveals that discretionary spending has become integral to everyday consumption rather than reserved for special occasions. "The propensity towards discretionary spends is far higher and not just reserved for milestones," Nath stated, highlighting how premium consumption now extends beyond major metros and contributes substantially to the broader economy.

The whitepaper emphasises that today's affluent consumers seek integrated lifestyle ecosystems rather than standalone products. They value seamless, interconnected experiences spanning travel, dining, wellness, payments and digital identity, prioritising time efficiency and access to bespoke offerings through dependable service providers.

Future Outlook

The convergence of an expanding affluent population, emerging consumption behaviours and rising standards across secondary cities positions India's luxury market for significant evolution. Success for premium brands will depend on establishing early presence—locally embedded, culturally relevant and consistently visible—rather than waiting for trends to fully materialise in data.