Retailers witnessed 18 per cent sales growth in July compared to pre-pandemic levels despite inflationary pressures with expectations of a strong festival season in the coming months. This was higher than growth levels seen in June 2022 at 13 per cent compared to June 2019.
Categories, such as sports goods, footwear, apparel, and furniture and furnishing led this growth, according to the latest survey by the Retailers Association of India (RAI).
While retailers in the eastern region reported sales growth of 25 per cent in July 2022 compared to July, 2019, sales were up 21 per cent in the Southern region compared to the pre-pandemic levels. Retailers in northern and western regions clocked sales growth of 16 per cent and 10 per cent, respectively, in July 2021 compared to July 2019.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retail businesses across the country are looking good as healthy growth in sales over pre-pandemic level continues. Considering this trend, retailers expect a good festive season, which could bring cheer to businesses.” He added that key categories, such as footwear and apparel are showing traction.
The industry body said sales across categories witnessed a steady increase. While the sports goods category witnessed a surge of 32 per cent in sales, footwear sales were up 23 per cent in July compared to the pre-pandemic levels. Furniture and furnishings sales grew by 23 per cent, apparel and clothing by 22 per cent, and consumer durables and electronics sales were up 17 per cent
Quick-service restaurant segment continued to clock steady double digit growth at 17 per cent while food and grocery sales were up 11 per cent. Jewellery sales were up 15 per cent and even the beauty and cosmetic segment was in the positive trajectory at 3 per cent sales growth.
|Furniture and furnishing||23%|
|Apparel and clothing||22%|
|Consumer durables and electronics||17%|
|Food and grocery||11%|
|Beauty and cosmetics||3%|