Late on November 8th 2016, Prime Minister Narendra Modi announced that 86% of the notes in circulation in India-Rs. 500 and Rs. 1000 notes-will no longer be legal tenders after midnight. The move was aimed to curb corruption and black money, primarily. Hailed as a landmark move by some and unnecessary by others, the situation had a big impact on spending pattern of the Indian consumers & the e-commerce business.
India’s #1 cashback destination CouponDunia has come up with an infographic detailing about how Indian consumers’ shopping behaviour shaped up following the demonetization announcement. The infographic highlights online shoppers’ behaviour from November 8th 2016 to January 2nd 2017, comparing it to equal number of days before the demonetization announcement- 13th September to 7th November.
It covers everything from top performing brands during the post-demonetization period to how top brands and metro cities were 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.
Detailed information about the effects of Demonetization on online shopping is below:
