Sports goods, furniture and shoes lead India’s retail growth this festive season: RAI
- According to a survey conducted by the Retailers Association of India (RAI), retail businesses across India have reported a growth of 18% in July sales as compared to the pre-pandemic levels.
- Sales across categories show a steady increase with sports goods indicating a strong performance followed by footwear, apparel and jewellery becoming the best performers in July 2022.
- The best spenders came from the eastern region, as it witnessed a 25% uptick in sales followed by the south which came a close second.
AdvertisementThe second quarter of the current fiscal year started on a good note for the retail industry.
A survey by the Retailers Association of India (RAI) indicates that in July 2022, retail businesses across India reported a growth of 18% in sales as compared to pre-pandemic levels in July 2019.
This growth was led by sports goods at 32%, while furniture and footwear grew at 23% each. A festive must-have, apparel too performed well as its sales witnessed a 22% jump.
|Category||Growth in July 2022 vs July 2019|
|Furniture & Furnishing||23%|
|Apparel & Clothing||22%|
|Consumer Durables & Electronics||17%|
|Food & Grocery||11%|
|Beauty, Wellness & Personal Care||3%|
The best spenders came from the eastern region, as it witnessed a 25% uptick in sales in July 2022 as compared to the year before. The next best performer was the southern region as it came a close second with 21% growth. In the north and the west, sales grew at 16% and 10%, respectively.
With the ongoing festive season, which starts with Raksha Bandhan and ends with Dusshera, India’s retailers are optimistic about seeing good momentum in sales.
“Retail businesses across the country are looking good as healthy growth in sales over pre-pandemic level continues. Key categories like garments and footwear are showing traction. Considering this trend, retailers expect a good festive season, which could bring cheer to businesses,” said Kumar Rajagopalan, CEO of RAI.
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