Retail businesses grow 24% in May against pre-pandemic level: Report
NEW DELHI: The retail businesses across India witnessed a growth of 24 per cent in May this year against the pre-pandemic level of the same month in 2019, according to industry body RAI. As per the latest ‘retail business survey’ by the Retailers Association of India (RAI), sales in western India grew by 30 per cent, while eastern India showed a growth of 29 per cent compared to the pre-pandemic sales level in May 2019.
Similarly, southern India posted a rise of 22 per cent and northern India grew 16 per cent, it added. RAI CEO Kumar Rajagopalan said, “It is encouraging to see a steady improvement in sales with 23 per cent growth in April and 24 per cent in May as compared to the pre-pandemic levels”. Categories, such as garments and footwear, have begun to do well on account of the ongoing wedding season and resumption of work from office, he added.
“The worry around inflation continues to exist, however, as of now, customers are willing to come out and shop as socialising is now picking up pace,” Rajagopalan further said. RAI said sales across categories continue to indicate steady growth. With outdoor activities picking up, categories such as quick-service restaurants (41 per cent) and footwear (30 per cent) are indicating rapid growth, and segments like beauty and wellness (9 per cent) have also started to show positive growth.
Consumer durables and electronics sales grew 15 per cent in May compared to the same month in 2019, while apparel and clothing also witnessed a growth of 24 per cent, according to the RAI survey. The food and grocery category clocked 23 per cent growth, and sports goods rose by 24 per cent, it added.