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55.71 per cent people favour demonetisation move across social media channels: Meltwater report

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55.71 per cent people favour demonetisation move across social media channels:  Meltwater report

The impact of demonetisation is felt by every sector and industry with most of them seeing a dip in their business. Media intelligence company Meltwater assessed the sentiments across sectors which appear to have been affected most by the government’s latest move.  

Nitin Bhatia, Director Agency Partnerships, Meltwater India says, "It’s evident that demonetisation has been the biggest issue being discussed all across India. We have seen many leaders from different countries lauding this decision by the Indian government. However, there have been speculations that there are multiple sectors that have been hit the most by the currency ban. While there have been millions of social media mentions on the topic, we at Meltwater thought we should analyse the conversations around who won the sentiment war. We found that overall almost 55 per cent of conversations in the editorial media and 44 per cent of the conversations on social media monitored showed positive sentiment."

According to the infographic shared by Meltwater, real estate sector had maximum mentions with 18,400 mentions on the topic (across social media) of which 27 per cent was negative while 18 per cent appeared to be positive in nature. This was followed by healthcare sector which saw 15,500 mentions where negative sentiment (66 per cent) overshadowed positive sentiments (4 per cent). Next was wedding sector with 5130 mentions where again sentiments were more negative (33 per cent) than positive (13 per cent) and travel segment with 1660 mentions with 39 per cent of negative nature and 9 per cent of positive nature.

Yangchen Yonzon, Managing Director, Meltwater India adds, "We found that the sector where people were most vocal about was the real estate Industry with most of the conversations indicating negative sentiment. As we know that there were many hospitals that suddenly stopped accepting Rs1000 and Rs500 rupee denomination notes, we observed that healthcare was the second most spoken about sector, followed by weddings and travel sector."

While the majority of the conversations depicted that the real estate sector will have a huge negative impact due to demonetisation, Abhishek Bhatewara, Director, Rohan Builder had a different take on this. "Demonetisation will lead to easing of interest rates due to lower fiscal deficit and higher lending capacity with banks. The lower fiscal will also mean government can spend more money on infrastructure. Both these effects of demonetisation will have a positive impact on home sales and prices."

Meltwater also gauged the reactions on demonetisation across social media which surprisingly was more positive (55.71 per cent) than negative (44.29 per cent). Even in the conversations studied by the agency 59.91K favoured the step while 47.63K were against it.

It also tracked the sectors’ share of voice in news where healthcare had the maximum share with 26.34 per cent followed by travel and tourism at 23.6 per cent and wedding industry at 18.91 per cent, amongst others. When it comes to social media, real estate sector had the maximum share of voice at 42.89 per cent followed by healthcare at 32.39 per cent and wedding industry at 10.56 per cent. Additionally it checked social media mentions of mobile wallet industry which had 20,000 mentions since the currency ban announcement.

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