{"id":3725,"date":"2020-03-19T07:13:34","date_gmt":"2020-03-19T07:13:34","guid":{"rendered":"https:\/\/razorpay.com\/newsroom\/?p=3725"},"modified":"2025-07-30T06:03:55","modified_gmt":"2025-07-30T06:03:55","slug":"coronavirus-leads-to-30-drop-in-online-travel-bookings-9-rise-in-grocery-purchase-razorpay","status":"publish","type":"post","link":"https:\/\/razorpay.com\/newsroom\/coronavirus-leads-to-30-drop-in-online-travel-bookings-9-rise-in-grocery-purchase-razorpay\/","title":{"rendered":"Coronavirus Leads To 30% Drop In Online Travel Bookings, 9% Rise In Grocery Purchase: Razorpay"},"content":{"rendered":"

Bengaluru – 19 March, 2020:<\/b> Razorpay<\/span><\/a>, the leading full stack financial solutions company, today shared insights about the<\/span> impact of the Coronavirus (Covid-19) outbreak on digital payments in India.<\/b> The insights are based on transactions held on the company\u2019s platform between February, 2020 and now.\u00a0<\/span><\/p>\n

Since December 2019 when Covid-19 originated in China\u2019s Wuhan city and its severity started to spread across the world, the global financial markets have been on the verge of a massive change – according to the UN Conference on Trade and Development, this outbreak might cost the global economy $1-2 trillion in 2020.\u00a0<\/span><\/p>\n

The <\/span>travel advisories have led to a drastic drop in online travel spending in India.<\/b> In 2019, according to Statista, the Travel sector contributed the highest to online payments in India with a 40% share<\/span>. <\/b>According to Razorpay,<\/span> the current situation has brought a decline of 30% in online travel bookings, signifying a downturn in the sector\u2019s contribution to overall digital payments<\/b>.\u00a0\u00a0<\/span><\/p>\n

At the same time, as human interactions are reducing, consumer payment habits are changing – <\/span>overall digital spending saw an increase of about 10%<\/b> on the Razorpay platform from February to March, owing to this virus outbreak. For the first time ever, <\/span>Online Grocery Shopping climbed the ladder with a growth of 9%, and Government and Utility Bill Payments grew by 30%,<\/b> representing precautionary measures that the customers are taking by staying indoors.\u00a0<\/span><\/p>\n

Let\u2019s take a look at how the pandemic has impacted other aspects of digital payments. <\/span>Again, these insights are based on transactions held on the Razorpay platform (February, 2020 – now):\u00a0<\/span><\/i><\/p>\n