Economy

Retail sector clocks 9% growth in Nov compared to pre-Covid levels: RAI

Meenakshi Verma Ambwani | | Updated on: Dec 20, 2021

While western region saw growth of 11%, East and South India clocked 9% growth compared to pre-Covid levels | Photo Credit: sergeyryzhov

Recovery is uneven across categories amidst concerns over omicron variant of Covid

Retailers in the country witnessed a 9 per cent growth of pre-pandemic levels in November, with recovery trends sustaining. But there is cautious optimism amidst Omicron spread across the globe.

The recovery remains uneven across categories with some showing growth over pre-pandemic levels but others still to touch November 2019-levels.

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According to the 22nd edition of the Retail Business Survey by the Retailers Association of India (RAI), retail sales in November 2021 clocked 9 per cent growth over the pre-pandemic levels (November 2019) and 16 per cent growth compared to November 2020.

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Kumar Rajagopalan, CEO, Retailers Association of India (RAI), 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.”

He added that with a firm focus on digital transformation, the industry has set a steady pace of recovery, which it hopes will accelerate in the coming year.

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Retail businesses across regions have indicated growth in sales as compared to pre- pandemic levels, the survey added. While the western region witnessed growth of 11 per cent , East and South India clocked a growth of 9 per cent compared to pre-pandemic levels. Meanwhile, Northern region clocked a growth of about 6 per cent compared to sales levels in November 2019.

“In categories, CDIT which did not show great growth in October showed a good growth (32 per cent as compared to November 2019) in November since customers ended Diwali with some CDIT product purchases,” the survey findings stated.

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At the same time sports goods category reported a growth of 18 per cent and apparel category indicated a consistent growth at 6 per cent compared to pre-pandemic levels. While food & groceries and quick service restaurants (QSR) continue to indicate growth, categories such as footwear, beauty, wellness & personal care, and furniture are inching towards recovery, it added.

Published on December 20, 2021
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