Retail organizations report 19% development in deals in October 2022 opposite pre-pandemic period: RAI Overview
New Delhi: Retail sales in India was up 19% in October 2022 compared to the same month in pre-pandemic level while retail businesses posted a 15% growth in the crucial month of October – a bonanza month when India celebrated Diwali – compared to October 2021, a survey by the Retailers Association of India (RAI) said on Monday.
Retail businesses across regions have indicated growth in sales as compared to pre-pandemic levels with West India signaling growth of 25%, while South India and East India indicate a growth of 18% each followed by North India at 14% as compared to sales levels in October 2019.
However, when compared to October last year, sales in West India grew 20%, East India grew 15%, South India grew 12% and North India 11%.
In categories, Consumer Durables and electronics have indicated a growth of 38% followed by Quick Service Restaurants (QSR- 33% growth) as compared to sales levels in October 2019.
Sports Goods and Food & Groceries continue to indicate growth at 30% and 23% sales respectively compared to pre-pandemic levels (same period in 2019) respectively.
When compared to October 2021, the category that has performed the best is Sports Goods with a growth of 35%. This is closely followed by Consumer Durables and Electronics which grew by 32%. Food and Grocery grew 15% (Y-o-Y) followed by Jewellery and Footwear at 13% each.
Apparel & Clothing grew 11% Y-oY. Beauty, Wellness & personal care and Furniture and Furnishings both grew at 8% Y-o-Y each.
Interestingly, at 9% growth Y-o-Y, QSR which shows the highest growth when compared to pre-pandemic levels, sits among the categories that did not perform well.
“The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories,” RAI CEO Kumar Rajagopalan said. “To understand the complete impact of the festival season on retail sales, it is essential to see the figures of October and November combined. We would await the results for the month of November to draw definitive conclusions. However, all the signs indicate a positive trend.”
