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Evolution of Digitalization in Retail Sector- a Case Study of Phagwara

The Indian economy ecosystem is standing on the edge of digitalization, from a traditional system of brick and mortar to the system of clink and links the India government along with the Reserve Bank of India has secure their manifesto to advance their system of circulation electronically, a integration of a sophisticated system fabricated digitally to carry out the digital transaction of payment and receipt in no time, with the automatic clearance and settlement. This study discusses the structure of digitalization of Indian economic ecosystem and majorly studies the acceptance of the digitalization in the retail market or industry, the adoption level and the perceptions along with the factors effecting the adoption and influences the retailors in adopting digitalization. For this a study was conducted in the retail market of the phagwara Distt Kapurthala Punjab. Although the government has putted up major efforts by launching numerous schemes strengthening the structure of digitalization and converted its supply side to fully digitalized, but the drawback that has been faced is from the demand side of digitalization. With the demonetization people has surely move toward the digital transaction but as soon as the money flow in the economy people again shifted to their most preferred way to doing a transaction. Findings that although the retailors are adopting various means of doing digital and even hold digital account, but account on various factors which still drag them to cash as their preferred way of doing business.