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Recovery On Track; Retail Sales In India Now 72 Per Cent Of Pre-Covid Levels: Report
Retail sales
One of the recent surveys by the Retail Association of India (RAI) reveals that the retail industry recorded a 72 per cent recovery in sales in the month of July in comparison to the pre-Covid-19 period, ie July 2019.
These developments have been a natural consequence of the state governments easing their lockdown restrictions due to a fall in Covid-19 infections across the country. Notably, in June 2021, the retail sales stood at 50 percent of the pre-pandemic levels.
Southern India particularly responded sharply with an 82 per cent recovery of sales in last month as compared to July 2019. However, lengthened restrictions on movement and businesses in Maharashtra meant that the recovery stood at only 58 per cent in western India.
On the basis of category, segments like quick service restaurants (QSRs), beauty and wellness along with apparel recovered 98 per cent, 50 per cent and 63 per cent to their pre-pandemic level sales respectively.
“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 CEO Kumar Rajagopalan was quoted in an article by Money Control.
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