The festive season, usually a time to splurge, is telling a different story this year. A smaller number of card transactions and weaker smartphone sales are hinting at consumers tightening their purse strings amid mounting pressure on household budgets.

Early data from Redseer estimated that India’s online festive sales clocked $7-8 Bn in gross merchandise value (GMV) during the first leg, from October 8 to 18. Nearly 100 Mn shoppers placed more than 350 Mn orders, with consumption running at around three times the everyday rate.

However, the data also pointed to a more cautious spending environment. According to Datum Intelligence, a market intelligence and consumer data analytics company, the online festive sales amounted to ₹29,800-₹30,900 Cr this year, down 7-10% from ₹33,200 Cr during the corresponding four-day period last year. Card spending, too, declined 12-15% YoY. 

The broader consumer picture was also subdued. LocalCircles’ ‘Mood for the Consumer 2026’ survey estimated that urban households would spend ₹1.97 Lakh Cr on festive discretionary purchases this year, down 6% from ₹2.10 Lakh Cr in 2025. The survey received more than 67,000 responses from urban consumers across 307 districts. 

The trends pointed to a central challenge for retailers: consumers continued to browse and buy, but rising expenses, uncertainty over earnings and jobs, and less compelling discounts made them more cautious about committing to expensive purchases. 

Flipkart’s ‘Big Billion Days’ sale, which opened on October 8 and closed on October 19, recorded 6.3 Mn concurrent users in a minute during its opening hour. 

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