Note ban fails to dampen spirit of New Year party-goers

Post-demonetisation, 67 per cent of Indians are buying their New Year parties online, but the note ban has in no way dampened the spirit of people gearing up to welcome 2017, according to a survey.
It, however, noted that the move hasn't had too much impact on people's party budget with over half the over 5,500 respondents planning to spend higher than last year.
"Party goers in India are loosening their purse strings this year with almost 52 per cent respondents ready to spend more, while 31 per cent keeping their budget the same for parties compared to last year," said the survey conducted by Sequoia Capital-backed Nearbuy (formerly Groupon India.

It found that almost 17 per cent wanted to stay within a budget or sought for an inexpensive option, and of them, 34 per cent said they felt cash-starved due to demonetisation and wanted to spend less.
The survey observed that last year 36 per cent spent less than Rs 1,000 on New Year's Eve, while 31 per cent of the respondents spent up to Rs 2,000. Nearly 21 per cent spent between Rs 2,001-5,000 and only 12 per cent upwards of Rs 5,000 last year.
"A majority of 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 Founder and CEO Ankur Warikoo said.

This is reflected in the findings with 67 per cent of those surveyed buying their New Year parties online.