New Delhi: Retail gross sales grew 15% year-on-year in October, and elevated 19% in comparison with pre-covid ranges, in keeping with a survey by business affiliation Retailers Affiliation of India (RAI).
“Retail companies throughout areas have indicated progress in gross sales as in comparison with pre-pandemic ranges with West India signaling progress of 25%, whereas South India and East India point out a progress of 18% every adopted by North India at 14% as in comparison with gross sales ranges in October 2019,” RAI mentioned within the thirty third version of the Retail Enterprise Survey on Monday.
RAI has been tracing month-to-month retail information because the onset of the pandemic. With offline retail being hit arduous, retailers pinned hopes on the festive season that concluded late final month. The festive interval noticed shoppers return to offline shops and store within the absence of any restrictons.
“The elimination of pandemic-related restrictions has resulted in all-round progress of retail companies throughout areas and classes. With a purpose to perceive the entire affect of the pageant season on retail gross sales, it’s important to see the figures of October and November mixed,” mentioned Kumar Rajagopalan, CEO, Retailers Affiliation of India.
Rajagopalan mentioned that each one indicators from October information point out a constructive development.
About classes that carried out properly, RAI mentioned that buyers purchased extra family electronics and white items throughout October. The class reported a 38% leap in gross sales in comparison with 2019 ranges. Classes equivalent to footwear, meals and grocery in addition to sporting items too reported robust double-digit progress in comparison with October 2019.
“In classes, shopper durables and electronics have indicated a progress of 38% adopted by fast service eating places (QSR—33% progress) as in comparison with gross sales ranges in October 2019. Sports activities items and meals & groceries proceed to point progress at 30% and 23% gross sales respectively in comparison with pre-pandemic ranges (identical interval in 2019) respectively,” in keeping with RAI information.
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Supply: Live Mint