Economy

Retail businesses grow 24% in May against pre-pandemic level: report

Picture used for representational purposes only. File

Picture used for representational purposes only. File | Photo Credit: REUTERS

The retail businesses across India witnessed a growth of 24% 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%, while eastern India showed a growth of 29% compared to the pre-pandemic sales level in May 2019.

Similarly, southern India posted a rise of 22% and northern India grew 16%, it added.

RAI CEO Kumar Rajagopalan said, "It is encouraging to see a steady improvement in sales with 23% growth in April and 24% 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," Mr. 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%) and footwear (30%) are indicating rapid growth, and segments like beauty and wellness (9%) have also started to show positive growth.

Consumer durables and electronics sales grew 15% in May compared to the same month in 2019, while apparel and clothing also witnessed a growth of 24%, according to the RAI survey.

The food and grocery category clocked 23%, and sports goods rose by 24%, it added.


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Printable version | Aug 16, 2022 4:21:33 am | https://www.thehindu.com/business/Economy/retail-businesses-grow-24-in-may-against-pre-pandemic-level-report/article65533678.ece