A Study On The Impact Of Demonetisation On Consumer Buying Behaviour With Special Reference To Consumer Goods In Namakkal District
Demonetization performs the stripping a currency unit of its position as legal tender. It happens whenever there is a transform of national currency: The present form or forms of currency is pulled from flow and retired, often to be replaced with fresh notes or coins. Sometimes, a nation completely replaces the old money with new currency. The opposite of demonetization is remonetization, in which a type of payment is restored as legal tender. The consumer goods sector was hit when government announced that a major portion of currency would no longer be legal from 8th November 2016. Leading newspapers quoted a drop in sales from around 20-40 percent and a loss in revenue to the industry in lakhs of crores. Therefore in order to measure the various impacts of demonetization a study like this holds importance in eyes of the business as well as academics. Demonetization impacts on buying behavior in all sectors, especially it impacts on buying behavior of consumer goods, Hence the study is taken to analyse on the topic. The scope of the study is limited to consumer goods. This conceptual study focuses on few aspects such as, im pact on buying behavior and customer perception about the buying behavior during demonization. The present study is analyzed in Namakkal district. The scope of the study is limited to consumer goods. This conceptual study focuses on few aspects such as, impact on buying behavior and customer perception about the buying behavior during demonization. The present study is analyzed in Namakkal district. The truth is that its design was fundamentally flawed. There was no “policy skeleton,” no analysis , and no evidence that alternative policy options were considered. Government should ensure the availability and trade of consumer goods for the sake of convenience of the end users before implement the demonitisation.