A new report by Visa Consulting & Analytics reveals that rising affluence in India is significantly shifting consumer spending from retail to travel. Among emerging affluent consumers, travel accounts for 28% of spending, which increases to 58% for the ultra-elite. In contrast, retail's share declines from 49% to 28% as wealth increases. The report categorizes consumers into four tiers based on monthly discretionary spending: emerging affluent (₹30,000+), established (₹70,000+), elite (₹150,000+), and ultra-elite (₹600,000+). As consumers ascend the affluence ladder, their discretionary spending on travel, dining, and luxury items rises sharply. Notably, the number of high-income households earning over ₹10 lakh annually has surged from 6.9 million to 13 million between FY20 and FY24, indicating a growing base for discretionary spending. This trend is also decentralizing wealth, with affluent consumers emerging in cities like Ahmedabad, Surat, Jaipur, and Lucknow. The focus is shifting towards experiences, with travel becoming a key pillar of lifestyle spending. Consumers are increasingly opting for fewer but high-value purchases, such as fine jewellery and custom clothing, while dining is evolving towards exclusivity. The report emphasizes that understanding consumer behavior is crucial, as affluent individuals are now prioritizing experiences over material goods.