Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 5 pages
Data source: Published sources
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Abstract
According to the National Payments Corporation of India (NPCI), transaction through Unified Payments Interface (UPI) in India increased from 15.28 billion in November 2024 to 16.73 billion in December 2024. With the rise in UPI penetration across the country, there was a decline in the sales of popular candy brands. Prior to UPI, shopkeepers used to give toffees to customers in lieu of change, citing shortage of coins. However, with the rise in UPI penetration, the sales of toffees started dwindling as customers could pay the exact amount to the shopkeepers. While the pandemic had boosted contact-less digital payments, people's preferences too had shifted from buying a single INR1 candy to ordering the entire packet online. In fact, in 2019, popular brands like Parle Products Pvt Ltd had decided to stop producing its '50-paise retail chocolates'. With the ever-changing business landscape, competition was emerging for businesses from unimaginable quarters. A case in point was the toffee business facing difficulties from the rise of financial products. Analysts were pondering whether UPI had caused a butterfly effect on the toffee business? How could the toffee companies survive the storm and cater to the changing customer preferences?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2025.Geographical setting
Region:
Asia
Country:
India
Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 4 pages
Data source: Published sources
About
Abstract
According to the National Payments Corporation of India (NPCI), transaction through Unified Payments Interface (UPI) in India increased from 15.28 billion in November 2024 to 16.73 billion in December 2024. With the rise in UPI penetration across the country, there was a decline in the sales of popular candy brands. Prior to UPI, shopkeepers used to give toffees to customers in lieu of change, citing shortage of coins. However, with the rise in UPI penetration, the sales of toffees started dwindling as customers could pay the exact amount to the shopkeepers. While the pandemic had boosted contact-less digital payments, people's preferences too had shifted from buying a single INR1 candy to ordering the entire packet online. In fact, in 2019, popular brands like Parle Products Pvt Ltd had decided to stop producing its '50-paise retail chocolates'. With the ever-changing business landscape, competition was emerging for businesses from unimaginable quarters. A case in point was the toffee business facing difficulties from the rise of financial products. Analysts were pondering whether UPI had caused a butterfly effect on the toffee business? How could the toffee companies survive the storm and cater to the changing customer preferences?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2025.Geographical setting
Region:
Asia
Country:
India
Related
Subject category:
Strategy and General Management
Published by:
Amity Research Centers
Length: 4 pages
Data source: Published sources