New Delhi: Retail gross sales grew 9% in November in comparison with pre-covid (November 2019), however dropped sequentially, in accordance with a pan-India Retail Enterprise Survey by the Retailers Affiliation of India (RAI).
Restoration was led by the buyer durables and electronics phase adopted by sports activities items and footwear, in accordance with findings of the survey launched Monday. Nevertheless, the business physique that represents small and huge retailers pan-India throughout classes akin to meals, attire, fast service eating places and many others flagged worries across the Omicron variant and an impending third wave.
To make sure, retail gross sales had been excessive in October because the month was filled with pre-festive shopping for. Diwali, for example, fell on 04 November this yr, submit which demand usually tends to reasonable.
Retail companies throughout areas indicated progress in gross sales as in comparison with pre-pandemic ranges with retailers in west India reporting 11% progress in comparison with November 2019, adopted by east and south India at 9%. Retail gross sales in north India grew 6% in comparison with gross sales ranges reported in November 2019.
“Enterprise is enhancing and we do hope that it will maintain. Nevertheless, there are nonetheless worries round Omicron and the third wave, resulting in a sense of cautious optimism,” stated Kumar Rajagopalan, CEO, Retailers Affiliation of India.
Amongst classes, RAI’s survey famous that client durables and electronics which didn’t report robust progress in October 2021, grew 32% over November 2019 as clients ended Diwali such purchases.
“Moreover, sports activities items class reported a progress of 18% and attire class indicated a constant progress at 6% in comparison with November 2019. Whereas meals and groceries and fast service eating places (QSR) proceed to point progress, classes akin to footwear, magnificence, wellness and private care, and furnishings are inching in the direction of restoration,” in accordance with the findings of the survey.
Supply: Live Mint