Domestic retail sales in November up 9% over pre-pandemic levels: RAI

Industry body Retailers Association of India (RAI) stated that retail sales in India increased by 9% in November 2019 compared to pre-pandemic levels, indicating an upswing in business despite concerns about Omicron variant spread and the third wave of the pandemic.

According to the RAI’s retail industry survey, last month's growth was 16% higher than the same month the previous year.

Retail firms across India have reported sales rise compared to pre-pandemic levels, with West India reporting an increase of 11%, East and South India at 9%, and North India at 6%, according to RAI.

Kumar Rajagopalan, CEO of RAI commented on the retail performance and said, “Business is improving and we do hope that this will sustain. However, there are still worries around Omicron and the third wave, leading to a feeling of cautious optimism.”

In terms of categories, consumer durables and electronics, which did not show much rise in October, grew by 32% in November compared to the same month last year, owing to Diwali sales.

The sports goods sector grew by 18%, while apparel grew by 6% in November 2019, according to the survey.

Food and groceries, as well as quick-service restaurants (QSRs), are showing signs of improvement, while other sectors including footwear, beauty, wellness, and personal care, and furnishings are showing signs of improvement, according to RAI.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.