Retail business grows 10% in February this year: RAI
According to the Retailers Association of India's (RAI) latest business survey, retail sales in India increased 10% in February this year compared to the same month last year, indicating that the industry is returning to normalcy. The increase is also a 6% increase over February 2020.
Retail firms in all regions showed growth in February 2022, with sales in West India up 16% YoY, East India increased by 4%, North India increased by 17%, and South India had a 4% increase.
Consumer durables and electronics, food and grocery, and quick service restaurants (QSR) all saw strong YoY increase of 28%, 19%, and 16%, respectively.
With a consistent drop in the rate of COVID-19 cases, the apparel and footwear categories have also shown double-digit increase.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.