Chaotic Transition

A Look at How Demonetization Affected the Indian Salon Industry
 

- Nidhi Soparawala & Winola Peris

Salon owners are smart, creative people who are often challenged when running a business. This is usually due to lack of marketing financing problems, poor planning and mismanagement. Here are some of the major problems salon owners face, and how you can solve them.

It has been a month into the demonetization initiative of the Indian Government, and there still exist long queues in the banks and outside the ATMs. Demonetization has become the most talked about topic since November this year! The ‘mahayagna against corruption’ as put across by Prime Minister Narendra Modi, has caused ripples across the nation. Different businesses across India are feeling the heat, especially those that are cash sensitive. Whilst speaking of various businesses, the salon and spa industry obviously cannot be barred from this phenomenon. There are those salons that have been majorly impacted by demonetization and then there are those that are functioning like they did before. There have been mixed reactions to this situation in the salon industry. Let’s find out the kind of impact that the salon industry has experienced due to demonetization...

The initial glitch