You are here: Home » News-IANS » Business-Economy
Business Standard

Demonetisation effect: 90% traders surveyed experience business decline

IANS  |  New Delhi 

A survey participated in by 8,000 respondents has found that 90 per cent of traders and small retailers across the country experienced a decline in the business post the of Rs 500 and Rs 1,000 notes.

"Ninety per cent of the traders and small retailers in 200 cities across the country experienced a decline in their business ranging from 0 to 90 per cent," according to a survey conducted by the Local Circles citizen engagement platform.

Approximately 16 per cent traders across the country are experiencing sales declines in the range of 60-90 per cent. These include jewellers and those dealing in furniture, and sanitaryware, among other items, the survey said.

It added that 28 per cent traders are experiencing declines of 30 per cent to 60 per cent. These include include traders in automobile, computers, mobile phones and garments.

According to the poll, approximately 46 per cent traders are experiencing sales declines in the range of 0 to 30 per cent and these include general stores and prepaid recharge dealers and those dealing in items of essential use.

As per the feedback, traders and small retailers are struggling for two primary reasons -- cash crunch and the clean-up of black money from the system.

Most of the traders were optimistic that once the circulation of cash improves, 60-70 per cent of the demand and sales will revive.

However, they felt that the 30-40 per cent consumption from black money hoarders has gone forever.

In a related survey on consumer spending, 20 per cent said they plan to spend less in the coming weeks due to the uncertainty post the and 30 per cent see themselves spending less in the coming weeks due to the limited availability of cash.

--IANS

mg/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Demonetisation effect: 90% traders surveyed experience business decline

A survey participated in by 8,000 respondents has found that 90 per cent of traders and small retailers across the country experienced a decline in the business post the demonetisation of Rs 500 and Rs 1,000 notes.

A survey participated in by 8,000 respondents has found that 90 per cent of traders and small retailers across the country experienced a decline in the business post the of Rs 500 and Rs 1,000 notes.

"Ninety per cent of the traders and small retailers in 200 cities across the country experienced a decline in their business ranging from 0 to 90 per cent," according to a survey conducted by the Local Circles citizen engagement platform.

Approximately 16 per cent traders across the country are experiencing sales declines in the range of 60-90 per cent. These include jewellers and those dealing in furniture, and sanitaryware, among other items, the survey said.

It added that 28 per cent traders are experiencing declines of 30 per cent to 60 per cent. These include include traders in automobile, computers, mobile phones and garments.

According to the poll, approximately 46 per cent traders are experiencing sales declines in the range of 0 to 30 per cent and these include general stores and prepaid recharge dealers and those dealing in items of essential use.

As per the feedback, traders and small retailers are struggling for two primary reasons -- cash crunch and the clean-up of black money from the system.

Most of the traders were optimistic that once the circulation of cash improves, 60-70 per cent of the demand and sales will revive.

However, they felt that the 30-40 per cent consumption from black money hoarders has gone forever.

In a related survey on consumer spending, 20 per cent said they plan to spend less in the coming weeks due to the uncertainty post the and 30 per cent see themselves spending less in the coming weeks due to the limited availability of cash.

--IANS

mg/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Demonetisation effect: 90% traders surveyed experience business decline

A survey participated in by 8,000 respondents has found that 90 per cent of traders and small retailers across the country experienced a decline in the business post the of Rs 500 and Rs 1,000 notes.

"Ninety per cent of the traders and small retailers in 200 cities across the country experienced a decline in their business ranging from 0 to 90 per cent," according to a survey conducted by the Local Circles citizen engagement platform.

Approximately 16 per cent traders across the country are experiencing sales declines in the range of 60-90 per cent. These include jewellers and those dealing in furniture, and sanitaryware, among other items, the survey said.

It added that 28 per cent traders are experiencing declines of 30 per cent to 60 per cent. These include include traders in automobile, computers, mobile phones and garments.

According to the poll, approximately 46 per cent traders are experiencing sales declines in the range of 0 to 30 per cent and these include general stores and prepaid recharge dealers and those dealing in items of essential use.

As per the feedback, traders and small retailers are struggling for two primary reasons -- cash crunch and the clean-up of black money from the system.

Most of the traders were optimistic that once the circulation of cash improves, 60-70 per cent of the demand and sales will revive.

However, they felt that the 30-40 per cent consumption from black money hoarders has gone forever.

In a related survey on consumer spending, 20 per cent said they plan to spend less in the coming weeks due to the uncertainty post the and 30 per cent see themselves spending less in the coming weeks due to the limited availability of cash.

--IANS

mg/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard