Indians cannot account for $8 a week spend
By siliconindia   |   Tuesday, 23 March 2010, 15:10 IST   |    9 Comments
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Indians cannot account for $8 a week spend
Bangalore: According to a new survey commissioned by payments technology company Visa, Indian consumers cannot account for an average of 383 per week in cash spending, that adds up to almost 20,000 per year, reports PTI. The international survey of more than 12,000 adults in 12 markets around the world (including 1,000 Indian consumers and 1,000 U.S. consumers) asked respondents to estimate their "mystery spending," or cash they spend, but cannot account for every week. Younger adults between the ages of 18 to 24 claim to lose track of almost Rs 24,000 annually, 20 percent more than the average amount, the survey said. The respondents said they were most likely to mystery spend while: Shopping for food or other groceries (60 percent); buying snacks (36 percent); leisure shopping/shopping for non-essentials (29 percent) and dining out (28 percent). Additionally, 73 percent of Indian consumers believe that making lots of small cash purchases makes it hard to track spending, it was stated.

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