Representational Picture  |  Photo Credit score: IANS
- Retail gross sales of client durables and electronics grew 12 per cent (YoY) in November
- Meals and grocery gross sales in November grew 5 per cent (YoY)
- Attire and clothes gross sales are down 12 per cent compared to November final 12 months
Though retailers throughout the board have seen some respite in the previous few months because of graded lifting of lockdowns and the festive season, total retail gross sales within the month of November had been decrease by 13 per cent as in comparison with final 12 months. The one classes rising within the optimistic territory as in comparison with final 12 months are client durables and electronics and meals and grocery, based on the Retail Enterprise Survey by the Retailers Affiliation of India (RAI).
Retail gross sales of client durables and electronics grew 12 per cent year-on-year. The patron durables and electronics phase continues to see an excellent run owing to an increase in demand for electronics and residential home equipment as folks work and research from house. The meals and grocery phase has began to see inexperienced shoots with a year-on-year progress of 5 per cent in November.
The attire & clothes phase continues to be reeling underneath strain with gross sales in need of 12 per cent compared to November 2019. Though, the phase present higher restoration compared to October when gross sales had been decrease by 30 per cent (YoY).
In keeping with RAI, Western and Japanese India are indicating a slower restoration with year-on-year gross sales decrease by 18 per cent and 17 per cent respectively. Northern and Southern areas are comparatively higher with a unfavourable progress of 9 per cent on a YoY foundation.
Kumar Rajagopalan, CEO of the Retailers Affiliation of India stated, “Whereas the festive and the muted marriage ceremony season aided some restoration for sure segments, the dearth of inbound journey of Non-Resident Indians throughout the winter has had a unfavourable impression on gross sales.”
Talking on the outlook for the retail trade, Kumar added, “Retail companies might get additional impacted by worldwide journey restrictions being imposed as a result of new pressure of the virus. Moreover, with native stage restrictions coming again into play, retailers are transferring in the direction of 2021 with cautious optimism. Nonetheless, the trade is hopeful of reaching about 85% of pre-pandemic ranges of enterprise within the subsequent six months.”
The tenth version of the RAI Enterprise Survey was performed with 68 respondents.