INCREASING LEVEL OF SPENDING POWER OF A MIDDLE-INCOME FAMILY DUE TO THE INTRODUCTION OF SCAN PAY SYSTEMS WHICH SPECIAL REFERENCE TO ERODE
Dr. K. Parthiban1 1, Ms. M. Nandhini2
1Professor, MBA, Nandha Engineering College (Autonomous), Erode, Tamil Nadu, parthibank@nandhaengg.org
2Student, MBA, Nandha Engineering College (Autonomous), Erode, Tamil Nadu, mininandiee@gmail.com
ABSTRACT
Examining how Erode middle-class households' purchasing power is affected by scan pay systems may reveal important information about the region's consumer trends and financial dynamics. Through an analysis of alterations in purchasing behaviours, convenience, and money management, this kind of research could demonstrate how technological innovations can improve this group's financial security. The impact of scan pay systems on middle-class households' purchasing power in Erode is examined in this study. Scan pay technology has completely changed the retail environment by facilitating quick and easy transactions The study's conclusions advance our knowledge of the financial effects of technology advancements in consumer financing, particularly as they relate to middle-class families in Erode and elsewhere. In every economy, aggregate savings are influenced by several interdependent factors.
Keywords: Middleclass, consumer behaviour, annual income, scan pay systems, QR code payments, buying spending habits, chi square analysis, ranked analysis.
