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Demonetisation will help shift offline retail to online: Report
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New Delhi: The demonetisation move acts as a further impetus for online players to leverage the shift to digital platforms for consumers, reveals a report by premium lifestyle online portal Luxehues.com. The study, conducted in November, is a result of approximately 150 qualitative interviews based on a structured questionnaire.
On being asked if demonetisation of Rs 500 and Rs 1,000 notes would impact the way brick-and-mortar retailing of premium and affordable luxury products had been operating so far, the general consensus was that it would not have an effect on consumers already shopping via credit or debit cards.
However, there is a feeling that some of the retail offline demand will eventually move to online due to sheer convenience and value that the channel offers.
The study reads: “A lot of the high-end purchases made at the stores using cash were primarily discretionary spends because consumers could easily afford it. There is one section of consumers who would not be able to convert this card purchase and hence demand from this segment will go out of equation over the next two to three years until fresh cycle of liquidity in the new currency became easy to access.
“By then the online channel would also have grown significantly. At the same time, several felt that if the cash-on-delivery facility dried up, it would impact online sales in the near term even as transactions would start to become much healthier.” Puneet Gupta of Puneet Gupta Invitations, which provides bespoke invitation cards, says he is hopeful this will lead to a structured and simplified style of business in the Indian market.
“A lot of Indian clients prefer to pay in cash and we are hoping that this demonetisation move will streamline things and make it all digital,” Gupta told IANS. As per the study; e-commerce will propel faster growth in the affordable luxury segment by providing distribution access, authenticity of goods purchased is a key criterion for online shoppers, and niche brands must invest in creating brand awareness to facilitate faster growth.
Woodsia is a brand known for manufacturing exclusive gold and silver plated decorative items using natural products and their by products. It is also retailed via Luxehues.com. Anuj Malik, the brand’s proprietor told IANS here that the Indian market lacks takers of these products which are made using flowers, leaves and more to create immortal gifting items through electroplating technology — as there’s dearth of understanding the thought and value behind these. He said they get better response from clients in Canada, US, Australia, New Zealand and Belgium.
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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