Indian retail sales continued to recover in July, reaching 72 per cent of the pre-pandemic levels of July 2019, and businesses are pinning hopes on the festive seasons for a further boost, according to the Retailers Association of India (RAI), which recently said the rate of recovery was 50 per cent of pre-pandemic levels in June this year.
In its latest business survey, RAI members in south India have indicated a very sharp comeback in July with sales at 82 per cent of the pre-pandemic levels (July 2019) as against 50 per cent sales in June 2021.Indian retail sales continued to recover in July, reaching 72 per cent of the pre-pandemic levels of July 2019, and businesses are pinning hopes on the festive seasons for a further boost, according to the Retailers Association of India (RAI), which recently said the rate of recovery was 50 per cent of pre-pandemic levels in June this year.#
However, west India is yet to improve, registering sales at 57 per cent of pre-pandemic levels (July 2019), a news agency cited RAI as saying.
"This is mainly because of prolonged curbs in Maharashtra that disrupted the smooth functioning of modern retail in the state," RAI said.
In terms of categories, quick service restaurants (QSR) recovered the best in July 2021 with sales at 97 per cent of the pre-pandemic levels (July 2019).
Yet, in July 2021, beauty and wellness, which includes salons, is still at 50 per cent of pre-pandemic sales, while apparel is at 63 per cent sales of the pre-pandemic levels.
"There is a possibility of significant sales recovery for retail businesses as the festive season approaches, provided restrictions on modern retail are relaxed across the country allowing smooth operations and return to normalcy," RAI chief executive officer Kumar Rajagopalan said.
Fibre2Fashion News Desk (DS)
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