Latest News | Customer Spending Getting Back to Pre-COVID Levels: AU Small Finance Bank
Get latest articles and stories on Latest News at LatestLY. AU Small Finance Bank on Monday said customer spending is getting back to pre-COVID levels and its festive season offer has witnessed 23 per cent rise in per day debit card spends.
New Delhi, Oct 26 (PTI) AU Small Finance Bank on Monday said customer spending is getting back to pre-COVID levels and its festive season offer has witnessed 23 per cent rise in per day debit card spends.
The 'AU Shopping Dhamaka' was launched on September 21 and will go on till November 22.
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AU Small Finance Bank is experiencing an increase of 23 per cent in per day debit card spends. Overall, point-of-sale (PoS) and e-commerce transactions witnessed a surge of 16 per cent since the launch of the festive offers, it said in a release.
The bank is already witnessing a bounce back in spending to pre-COVID levels, it added.
The festive offer also includes credit offerings such as 100 per cent waiver on valuation charges for gold loan and attractive interest rates on car and home loans, it said.
PoS transactions have been slightly higher than e-commerce sales. This trend has been witnessed across urban and core markets, which could be attributed to the recent relaxation of lockdown rules.
The bank is offering over 1,000 deals in partnership with various brands such as Amazon, Myntra, Zomato, BigBasket, Grofers and over 400 hyper local merchants.
"Our second edition of Shopping Dhamaka is designed to be more comprehensive, sweetening the deal across categories that include daily requirements and not just seasonal shopping...
"We are already receiving an upbeat response to the offers and expect them to further motivate spending during the festive season," AU Small Finance Bank Executive Director Uttam Tibrewal said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)