Prime Minister Narendra Modi announced scrapping of India’s high-value currencies (INR500 and Rs1000 notes) in a surprise televised address on November 8, 2016. The banknotes, which accounted for about 86 per cent of the total currencies in circulation, were demonetised from the midnight.
The move, aimed at curbing corruption and black money, severely hit businesses and the common man alike. Even digital businesses got affected by the sudden demonetisation move. It also affected the spending pattern of Indian consumers.
CouponDunia, a cashback site, has come up with an infographic detailing how Indian consumers’ shopping behaviour has shaped up since the demonetisation exercise. 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 — 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. ‘Other Insights’ at the extreme bottom category highlights the surge in ordering food and medicine online and booking cabs, too.