Seven states of India have allowed retail shops to work for 24 hours a day, leading to a rise in consumer spending, especially during the late-night time, Business Standard reported, citing data from shopping checkout platform Simpl, which showed that there was a 60% increase in the value of payments for orders placed between 10 pm and 4 am, last year.
What are Indian consumers spending the most on at night?
The food and beverage segment got most late-night orders, followed by mobility services, on-demand drivers, and parking service providers, according to the report.
Also Read: Zepto to diversify from groceries into higher value items, looks to set up bigger outlets
Prominent merchants benefiting included Zepto, Blinkit, Swiggy Instamart in Quick Commerce; Zomato and Swiggy in Food and Beverage; and Myntra and Nykaa in Fashion.
The number of transactions at nighttime grew by nearly 30%, with a 10% increase in the average order value too, the article read.
Which states allow for 24 hour retail operations?
The states that allowed for round-the-clock retail operations included Maharashtra, Karnataka, Telangana, Haryana, and New Delhi, following the central government passing the Model Shops and Establishment Bill, 2016, allowing retail commercial establishments to stay open 24 hours, seven days a week, if they choose to, according to a Quartz article.
Also Read: Shopping bills increase as consumer goods companies hike prices
Madhya Pradesh allowed all shops and commercial establishments to be open 24 hours earlier this June, and Chandigarh did the same for all shops, except for bars and pubs just this Thursday, Indian Express wrote, citing that all of this is for generating greater revenue and employment opportunities, while also promoting the ease of doing business.
Also Read: India’s jewelry retail sector surges to $80 billion in 2023-24 from $50 billion 6 years back