Masses show ‘patient restraint’ post-demonetisation, says Maxus study

05 Dec,2016

The demonetisation of the Rs 500 and Rs 2000 currency notes at 8pm on the eve of the US election 2016 results by Prime Minister Narendra Modi was a surprise announcement that triggered a significant upward kink in social media chatter.

Maxus Kaleidoscope mapped the mood basis the location based Twitter and Instagram conversations in India between November 8 and 24 by when one had a clearer picture of the how the initial euphoria of the demonetisation panned out over time.

Location0based Tweets and Instagram Posts oscillated largely between Action oriented and Calm Moods in the fortnight since the demonetisation from an All India basis. Calm moods were dominant in the North Eastern states of Mizoram and Meghalaya as depicted in the map below.

 

 

Nearly 5 lakh conversations on Twitter and Instagram made up the Top 10 trending topics. Demonetisation accounted for six of the Top 10 trending topics since the announcement of which the Prime Minister garnered half of the trending topics. #IamwithModi and #Modi were the topics that made up for 19% of the conversations within the top 10 trends. Cricket shared a bit of the spotlight from demonetization thanks to the ongoing England-India test series.

 

 

A total of 23 brands of were linked to the top 10 trending topics during the past fortnight. These brands factored in slightly over 30% of the total conversations of which PayTM (avg. 53% association) and SBI (avg. 16% association) carved out the larger part of the Brand Share of Conversation.

Samsung and Amazon also managed to gain a significant share of overall conversations however Samsung conversations were largely based on humorous conversations around the Samsung Galaxy Note and demonetisation of currency notes.

The Top 5 metros reflected similar patterns of Moods where Action dominated the moods however there were some days especially like November 17 in Delhi when the expression of Calm gave way to Action. Additionally Tamil Nadu showed a blip towards Anxiety on the November 18, 19 and 21 when subsequent announcements of the demonetisation easing by the government and news of the CM Ms. Jayalalithaa seemed to have driven up the specific mood.

 

 

Overall, across the top cities in India there is a sense of patient restraint as the demonetisation moves on into the 3rd week and nears the critical end of the month period when cash flows really come into play.

 

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