On November 8, 2016, Prime Minister Narendra Modi announced that India’s high-value currencies — INR500 and Rs1000 notes — which account for about 86 per cent of the total currencies in circulation — would no longer be legal tender after midnight.
While the move was aimed at curbing corruption and black money, it severely hit the life of the common man. They could be seen running from pillar to post to get their demonetised currencies changed. People lined up in front of ATMs and banks to exchange the scrapped notes for lower-value currencies. The situation also had a big impact on the spending pattern of Indian consumers and e-commerce businesses.
CouponDunia, a cashback site, has come up with an infographic detailing how Indian consumers’ shopping behaviour shaped up after the demonetisation announcement. The infographic highlights online shoppers’ behaviour from November 8, 2016 to January 2, 2017, comparing it to the equal number of days before the announcement, that is, from September 13, 2016 to November 7, 2016.
It covers everything from top performing brands during the post-demonetisation period to how top brands and metro cities got impacted. There are also some very interesting insights in the ‘Other Insights’ category, highlighting the surge in ordering food and medicine online and booking cabs, too.
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