Debit and credit cards have changed the way the urban India shops. More and more shopkeepers are now installing the magnetic strip credit card readers next to their billing counters. The advent of internet shopping and eticketing has changed the scenario of shopping and ticket booking for many especially in urban India.
Online shopping market in India is worth Rs 1,300 crore and the growth rate is upwards of 30%. (Reference). The online travel industry is expected to grow to Rs. 28000 crore.
More statistics about the ecommerce in India is available here, here and here. Especially booking train tickets online has changed the way we plan for train travelling. No wonder 1/3rd of all the ecommerce transactions in India are through IRCTC.
It has been around one year since I have started making use of the eticketing facilities offered by irctc, msrtc, etc and I have been amazed by the convenience the service offers for a service charge of Rs. 10 to Rs 25. The whole experience of booking ticket has become cashless and ticket booking happens very quickly (Well, the internet speed acts as a bottleneck here).
While I am really happy with the convenience the service offers, there is something about the whole procedure that makes me a bit uncomfortable. The transaction being cashless doesn't give a feel that we have lost money. E.g: My last irctc transaction involved a sum of Rs. 2273. Now this is a huge amount and parting with such a huge amount under normal circumstances (when we book tickets through agents or ticket counters) and makes us feel that we are spending too much and should put a control on expenditure we make. But this eticketing experience did not give any feeling that I am doing a transaction involving a huge sum. Infact, I was tempted to book an alternative ticket just in case I couldn't make it to the train on that day. The idea that I will be locking in Rs 2273 again didn't bother me at all. The feeling of parting with ones' hard earned money (or parents' hard earned money) just doesn't come in. And this is what makes me uncomfortable.
It happened to me once - there was a book store cum library newly opened up in a town and I just went to see the shop and was really amazed by its collection. So, I was tempted to become a member. I was about to give my debit card to the store owner to register me as a member. But then I discovered that I had forgotten my card. So, now I had no other option but to carry out the transaction with cash. But as the feeling of parting with so much cash (around Rs 1000) creeped in, I decided against becoming a member. And now I am really happy I didn't become a member. (I have a great collection of ebooks to keep me busy for around 5 years alongwith a great library at SCMHRD). Had I brought that card on that day I would have surely been tempted to become a member and would have wasted Rs 1000 unnecessarily.
Because of such services, I feel that the savings of people will decrease and people will spend more and more even though there is no need. I've seen a lot of my friends and colleagues buying books from infibeam just because it flashed on their laptop screen without any need. (Temptation to buy). So, I feel that one of the major reasons why people in the USA have a lower savings rate when compared to the Asian nations is the wide spread use of debit and credit cards.
Conclusion: While credit and debit cards have made transactions convenient, we should restrain from using it unnecessarily out of temptation and try to do cash transactions (part with ones' hard earned money), wherever possible, so as to value money (eventually save more).
Tuesday, October 26, 2010
Sunday, October 17, 2010
Partying
The meaning of the term "Partying" has been in a state of change.
Right from childhood the term partying has been in a constant state of evolution.
In school during primary days, partying meant an evening snack at some friends' house with some games like Housie lotto or musical chair hosted by the mother of the party giver. Birthday parties used to come with return gifts. Based on the return gifts, we used to rate the birthday parties. A bulkier return gift meant a better party.
As I evolved, the idea of partying also started changing. Now in my secondary days, parties did not mean celebration at anybody's home. Parties had to happen at a restaurant where the group had to have dinner followed by a desert. It was no longer cool to be hosting party at home.
As days passed and I got out of my junior college, the birthday parties lost a bit of significance. Now, party meant visiting a hill station or another town so as to help friends spend a lot of time together. Still the restaurant pattern did not change.
As I joined my first job, the idea of party remained more or less like a restaurant party but with only one change - The party needs to have booze. Infact, the term 'partying', in my office and also in my B-school, is now synonymous with booze. The food aspect of the party is forgotten and now the site selection for party involves a place where good booze alongwith a proper ambience is present. As I started interacting with more and more people around, I have now observed a different trend. Now, partying means to spend an evening in a pub (in a huge group) where people get to dance around alongwith beer, wine. etc and then after getting tired, have some food in a restaurant if there stomach is still asking for more.
Thus, partying has evolved significantly - from the innocence of house parties to restaurants to the boldness of drinking at pub. Wonder what will be its meaning in the future.However, for me, one thing remains constant - a party means to spend quality time with friends and colleagues.
PS: The above post represents the view point of most of the people whom I go partying with does not necessarily mean that I drink at parties.
Right from childhood the term partying has been in a constant state of evolution.
In school during primary days, partying meant an evening snack at some friends' house with some games like Housie lotto or musical chair hosted by the mother of the party giver. Birthday parties used to come with return gifts. Based on the return gifts, we used to rate the birthday parties. A bulkier return gift meant a better party.
As I evolved, the idea of partying also started changing. Now in my secondary days, parties did not mean celebration at anybody's home. Parties had to happen at a restaurant where the group had to have dinner followed by a desert. It was no longer cool to be hosting party at home.
As days passed and I got out of my junior college, the birthday parties lost a bit of significance. Now, party meant visiting a hill station or another town so as to help friends spend a lot of time together. Still the restaurant pattern did not change.
As I joined my first job, the idea of party remained more or less like a restaurant party but with only one change - The party needs to have booze. Infact, the term 'partying', in my office and also in my B-school, is now synonymous with booze. The food aspect of the party is forgotten and now the site selection for party involves a place where good booze alongwith a proper ambience is present. As I started interacting with more and more people around, I have now observed a different trend. Now, partying means to spend an evening in a pub (in a huge group) where people get to dance around alongwith beer, wine. etc and then after getting tired, have some food in a restaurant if there stomach is still asking for more.
Thus, partying has evolved significantly - from the innocence of house parties to restaurants to the boldness of drinking at pub. Wonder what will be its meaning in the future.However, for me, one thing remains constant - a party means to spend quality time with friends and colleagues.
PS: The above post represents the view point of most of the people whom I go partying with does not necessarily mean that I drink at parties.
On Festivals
The fact that I stay outside home has led me to miss a lot of festival celebrations with my family members. Not only me, but most of the young people who stay outside their homes for work or studies tend to miss a lot of festivals.
During festivals when I am not at home, I tend to visit the heart of cities (or what we call the old city part of the town) to see how the festival is celebrated in the city. Today was such an occasion. Today was Dassera and so I had been to the old part of Pune (Deccan and nearby area) to see how the festival is celebrated. I was very happy to see the automobile stores, mobile shoppes and other shops geared up for the Dassera shoppings. [Hope that they have a good sales today. (Rain clouds lurking around)]. I saw a lot of people in traditional dresses but yet I felt that the feeling of festival was missing amongst people. The festival feeling was just like superficial. It was as if there had to be some ritual on Dassera because it was done by ancestors. The rituals are considered as a pain during the cosy holiday by most of the modern day nuclear families living in tier 1 or tier 2 cities.
I had observed the same during the festival of Ganpati - Most were invloved with worshipping their own at home idols.
When I look at why these festivals were started, I find strange to observe such kind of behaviour. These festivals were started for bringing people together. E.g: Lokmanya Tilak started Ganesh Festival to help people get together and plan for the freedom movement. I do not know who started Dassera but it also means the win of the good or the right v/s the evil or the wrong. So, ideally during these festivals people should meet together and discuss issues surrounding them. As such festivals should be an occasion of a get-together between people.
Yet more and more people, during these festivals, are opting to celebrate the festivals with their own families. People consider festivals as an occasion to be a time to be with their families.
So, I believe that there has to be a serious thought given on the reason why the festivals are celebrated - Is it because of our parents, ancestors [tradition] or are we seeing any value in it (other than, ofcourse, a holiday)
Dassera - I am missing the distribution of those apta leaves and taking the wishes of parents and elders.
(An interesting link of why the Apta tree leaves are distributed in Dussera. Click).
Wish everyone a very happy dussera.
During festivals when I am not at home, I tend to visit the heart of cities (or what we call the old city part of the town) to see how the festival is celebrated in the city. Today was such an occasion. Today was Dassera and so I had been to the old part of Pune (Deccan and nearby area) to see how the festival is celebrated. I was very happy to see the automobile stores, mobile shoppes and other shops geared up for the Dassera shoppings. [Hope that they have a good sales today. (Rain clouds lurking around)]. I saw a lot of people in traditional dresses but yet I felt that the feeling of festival was missing amongst people. The festival feeling was just like superficial. It was as if there had to be some ritual on Dassera because it was done by ancestors. The rituals are considered as a pain during the cosy holiday by most of the modern day nuclear families living in tier 1 or tier 2 cities.
I had observed the same during the festival of Ganpati - Most were invloved with worshipping their own at home idols.
When I look at why these festivals were started, I find strange to observe such kind of behaviour. These festivals were started for bringing people together. E.g: Lokmanya Tilak started Ganesh Festival to help people get together and plan for the freedom movement. I do not know who started Dassera but it also means the win of the good or the right v/s the evil or the wrong. So, ideally during these festivals people should meet together and discuss issues surrounding them. As such festivals should be an occasion of a get-together between people.
Yet more and more people, during these festivals, are opting to celebrate the festivals with their own families. People consider festivals as an occasion to be a time to be with their families.
So, I believe that there has to be a serious thought given on the reason why the festivals are celebrated - Is it because of our parents, ancestors [tradition] or are we seeing any value in it (other than, ofcourse, a holiday)
Dassera - I am missing the distribution of those apta leaves and taking the wishes of parents and elders.
(An interesting link of why the Apta tree leaves are distributed in Dussera. Click).
Wish everyone a very happy dussera.
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