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NRIPage | Articles | Urban Indians Shift Spending to Experiences: The Rise of Concerts and Food Delivery | Get Fashion & Beauty Ideas. Elevate Your Style and Confidence - NRI Page
In recent years, urban Indians have dramatically shifted their spending habits, favoring experiences over traditional retail and fast-moving consumer goods (FMCG). According to a CLSA report, this trend is epitomized by the overwhelming demand for concert tickets, particularly for the much-anticipated Coldplay shows in January 2025, which sold out within minutes. The massive interest has even led to a third concert being added to accommodate fans, with tickets now fetching prices up to five times their original value on the black market.
This surge in concert attendance isn't isolated to Coldplay; other artists like Diljit Dosanjh, Dua Lipa, and Bryan Adams have also seen their tickets sell out rapidly. Dosanjh's concerts alone generated over Rs 350 crore in just a month, highlighting a significant trend where experiences, especially live events, are becoming the preferred spending avenue for millennials and Gen Z.
While quick-service restaurants (QSRs) are facing challenges in this evolving landscape, food delivery services such as Zomato and Swiggy are thriving. CLSA has identified Zomato as a top performer, with its food delivery business experiencing over 25% growth quarter-on-quarter. This growth is further supported by Zomato's acquisition of Paytm's ticketing business, allowing the platform to integrate restaurant bookings with entertainment offerings seamlessly.
The report underscores the broader trend of consumers shifting their focus from traditional goods to experiences that resonate more deeply with their lifestyles. Companies like MakeMyTrip and Nykaa are also benefiting from this change, with significant growth in their respective sectors, indicating a transformative shift in the consumer market in India.
