New Delhi: Home retail gross sales in January grew 5% year-on-year with classes similar to fast service eating places, meals and grocery and jewelry benefitting from robust client demand through the month, in line with a month-to-month survey of shops.
Gross sales additionally noticed a sequential enhance, with a 4% progress in December, but they fell in need of general expectations.
“January gross sales have been under expectations. Although retailers confirmed general progress due to enlargement, many have mentioned that they didn’t witness progress on identical shops gross sales,” mentioned Kumar Rajagopalan, chief govt, Retailers Affiliation of India, with out detailing the anticipated gross sales progress.
The marriage season contributed to the expansion in jewelry, meals, and grocery sectors, however progress in different classes was restricted, Rajagopalan mentioned, including that demand for attire and electronics was subdued.
Geographically, gross sales in northern India elevated, however many retailers within the east and south reported declines because of weak demand for discretionary objects, he mentioned.
When it comes to particular sectors, client durables and electronics noticed a 1% decline in year-on-year gross sales for January, whereas attire gross sales rose by 2%.
12 months-on-year gross sales progress for client durables and electronics fell 1% in January, whereas attire gross sales reported a 2% progress in the identical interval.
“Even CDIT (client durables and IT) retailers have discovered the month of January to be difficult for progress. Many garment retailers have discovered progress difficult regardless of it being low cost season for non-occasion put on clothes,” mentioned Rajagopalan.
Retail gross sales usually decelerate after the October to December pageant season, and attire retailers begin gross sales in January to filter out winter stock.
Companies throughout areas indicated year-on-year gross sales progress, with retailers in western India reporting a 6% enhance, and the north and south every seeing a 5% rise. The jap area lagged with solely a 3% progress, as per the survey.
Class-wise, fast service eating places, meals & grocery, and jewelry every noticed a 9% enhance, adopted by sports activities items at 8% and sweetness merchandise at 6%, in comparison with January 2023 gross sales.
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Printed: 21 Feb 2024, 04:51 PM IST
Supply: Live Mint