Marketplace literacy education and coping behaviors among subsistence consumer - entrepreneurs during demonetization in India

Abstract

We study the impact of marketplace literacy education on marketplace coping behaviors in the face of systemic shock due to demonetization, deriving important implications for consumer affairs from this radically distinct context. We study whether and how such education can have positive impact even in the face of such macrolevel disruption that disproportionately affects those with the least resources and renders them even more vulnerable. Marketplace literacy education encompasses awareness and knowledge about marketing as well as self-confidence and awareness of rights as buyers and sellers. We examine the influence of marketplace literacy in urban and rural areas on coping behaviors of low-income women consumer–entrepreneurs during demonetization in India, using a retrospective survey. We derive implications to mitigate the effect of future shocks on consumers and entrepreneurs at the vulnerable end of the income spectrum.