Demonetisation won't dampen new year's eve plans

Due to rising digital payments, over 50% Indians plan to increase spending over last year's New Year

The demonetisation drive does not seem to dampen plans for New Year’s Eve party-goers this year, with 67 per cent set to buy their party online, according to a survey by hyperlocal platform nearbuy.com. 

Due to the growing penetration of digital payments across platforms, over 50 per cent Indians plan to increase spending over last year’s this New Year's Eve. 

The survey, conducted among over 5,500 persons across the country, reported the number of people opting for a party at a five-star pub or club has risen from 24 per cent last year to 29 per cent this year.

Commenting on the results of the survey, Ankur Warikoo, founder and chief executive officer of nearbuy.com, said: "Conducting this survey has provided us with essential insights about our target audience and their sentiments towards NYE 2016. Majority of the people are willing to spend more than what they did the previous year, which essentially means that demonetisation has not dampened their spirit and they are in full gear to buy their party passes online which works in our favour.”

Nearbuy.com is one of the largest hyperlocal platform that enables service merchants in the offline world sell to online customers, be it in terms of fine dining, spas, or merely discovering places in a city.