International Journal For Multidisciplinary Research

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The Impact of digital payments on small coffee business in India

Author(s) Nagabhushan P Gaonkar, Vinod Krishna M. U
Country India
Abstract India's coffee industry has experienced notable growth, fuelled by rising demand for specialty coffee and a thriving start-up culture. However, small coffee businesses continue to face challenges such as fierce competition, limited resources, and reliance on a cash-driven economy. This study examines the impact of digital payments on these small enterprises, focusing on key aspects like convenience, security, speed, data-driven insights, and reduced costs associated with cash handling.
Utilizing a mixed-methods approach, the research integrates both quantitative and qualitative analyses. Primary data is gathered through structured surveys from 200-300 small coffee business owners and customers, complemented by in-depth interviews with 10-15 coffee shop owners. Additionally, secondary data from industry reports and case studies enriches the analysis. Statistical tools, including descriptive and inferential statistics, correlation analysis, and factor analysis, are employed for quantitative data, while thematic analysis interprets qualitative insights.
The study reveals that digital payments significantly improve operational efficiency, enhance customer satisfaction, and boost revenue for small coffee businesses. Challenges such as digital literacy gaps, cyber security concerns, and infrastructural limitations remain. The findings recommend that small coffee businesses can optimize the benefits of digital payments by investing in digital literacy, addressing security issues, and leveraging data insights for informed decision-making.
Keywords Digital Payments, Small Coffee Businesses, Digital Adoption, Payment Systems, Customer Behaviour, Digital Literacy.
Published In Volume 6, Issue 5, September-October 2024
Published On 2024-10-15
Cite This The Impact of digital payments on small coffee business in India - Nagabhushan P Gaonkar, Vinod Krishna M. U - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.28015
DOI https://doi.org/10.36948/ijfmr.2024.v06i05.28015
Short DOI https://doi.org/g8k5x4
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