RETAILERS ROLE IN DEMONETIZATION

#Retailers Role in #Demonetization :

Every Individual and Institute is playing their own role in the historic move of demonetization.
The Government is working on to reduce the discomfort of common man due to the issue. The decision was sudden hence became effective too, again the time will tell the degree of effectiveness of the decision, but initially it has brought so many difficulty to farmers, small and medium enterprises and approx all aspect of the common-man's life.
Government has utilized retails chain in very smart way to reduce the difficulty as they utilized petrol pumps to dispense and exchange the cash , along-with the cooperative stores.
One of the best known retailer #BIGBAZAAR who has enabled some of the stores to dispense cash against debit cards, definitely its a positive move by a retail giant to help the people in this situation of note ban.

Others E-retailers like #PayTM are also playing their role to help and enable people to use plastic money to get access of day-to-day FMCG products and services.

Its a real good initiative of retailers to attract and earn the trust of customers .

https://rajputravi.blogspot.in/

Demonetization and Its Impact on Retail

The currency demonetization has impacted all over India in all sectors, hence the retail is also not untouched.

The both form of retail A. Organized and B. Unorganized have faced it on larger scale, the same has given little advantage to the retailers who have enabled and equipped with electronic payment gateways. The decision will make possible of maximum payments through net and other payment gateways rather in cash.
It will also help the multinational and domestic brands to have clear count of all transaction with records which will help them to plan and make market strategies in coming years to churn out best outcome.
It has made possible to use your card at grocery shop near by ( The Kirana shops, Paan Bidi Shops, Milk booths , etc ) , also giving an opportunity to be cashless.
In general the organized retail where already card payments, coupon sales and transaction other than cash mode are having 50 to 60 percent share, it is increasing at larger scale and will enforce to general street sellers and conventional stores in society to use Electronic payment ways which is a brighter side.
In present it affecting the cash business, but the same would be on track very soon...

Thanks :

RAVI K. SINGH