India's Consumption Patterns: Personalisation, Premiumisation, and Purpose with Sandeep Ghosh

India's consumption patterns are undergoing a transformation driven by rising affluence, digital connectivity, and a thriving entrepreneurial ecosystem. The future of consumption is "personalised, purposeful, and pluralistic" with millennials and Gen Z balancing value-for-money with unique experiences. Visa's co-branded card strategy aims to meet evolving consumer expectations through data-driven insights and partnerships with banks and brands. The rise of the creator economy is also a defining force in this shift.

India's consumption patterns are undergoing a significant transformation, driven by rising affluence, digital connectivity, and a thriving entrepreneurial ecosystem. This shift is characterized by personalized, purposeful, and pluralistic spending, with millennials and Gen Z balancing value-for-money with unique experiences. Visa's strategic co-branded card initiatives and the rise of the creator economy are key drivers of this transformation.

Visa's strategic partnerships with airlines and other brands aim to meet evolving consumer expectations through data-driven insights and collaborations. A notable example is the co-branded agreement between Kenya Airways and Visa, which will introduce co-branded credit and debit cards with travel-related features and reward points [1]. These cards will enhance passenger travel benefits and promote digital payment adoption in the aviation sector. The partnership reflects Kenya Airways' efforts to adapt to changing passenger needs and expectations.

The Flipkart SBI Credit Card, another example of Visa's co-branded strategy, offers cashback rewards across various e-platforms, including Myntra, Zomato, and Uber. Cardholders can earn up to 7.5% cashback on Myntra and 5% on Flipkart, Shopsy, and Cleartrip, with additional benefits on other spends [2]. This card strategy aligns with the increasing demand for personalized and rewarding experiences, as consumers seek value-for-money and unique perks.

The rise of the creator economy is another defining force in this shift. India's creator economy is estimated to cross ₹2,200 crore by 2025, with brands increasingly relying on user-generated content (UGC) for marketing campaigns. Flowkar, a social media innovation platform, has launched Markent, a skill-based digital competition tool that connects brands, creators, and audiences through engaging UGC [3]. This platform offers a transparent, skill-based model with no betting or gambling element, positioning itself as a festive campaign powerhouse. Markent's debut coincides with Ganesh Chaturthi 2025, tapping into one of India's most celebrated festivals.

In conclusion, Visa's co-branded card strategy and the rise of the creator economy are transforming India's consumption patterns. These initiatives meet evolving consumer expectations for personalized, purposeful, and pluralistic experiences, driving growth and innovation in the financial and digital sectors.

References:
[1] https://fintechnews.africa/45853/fintech-kenya/kenya-airways-visa-co-branded-cards/
[2] https://economictimes.indiatimes.com/wealth/save/flipkart-sbi-credit-card-with-up-to-7-5-cashback-offers-deals-on-myntra-zomato-uber-pvr-more/articleshow/123670593.cms
[3] https://www.business-standard.com/content/press-releases-ani/flowkar-launches-markent-with-ganesh-chaturthi-contest-win-2-5-lakh-in-india-s-first-skill-based-creator-competition-125083000750_1.html