Retail businesses see 13 per cent sales growth in month of June: Report

 

 

Retail businesses across India witnessed 13 per cent sales growth in June compared to the pre-pandemic levels of the same month in 2019, Retailers Association of India said on Monday.

Although sales last month were higher than the pre-pandemic levels, the second half of June was not very encouraging, and the impact of inflation on consumer spending is still a worry, which may affect the upcoming festive sales, Retailers Association of India (RAI) said in a statement.

As per RAI’s latest business survey, retail businesses in the eastern region posted the highest growth last month, with a rise of 17 per cent over June 2019, followed by the north at 16 per cent, west at 11 per cent and south at 9 per cent.

“While June 2022 has witnessed growth as compared to the same period before the pandemic, the rate of growth has definitely slowed down. Many retailers have indicated that the second half of June was not very encouraging as there weren't too many celebratory occasions, such as weddings, to drive sales. The headwinds of inflation on consumer spending are still a worry and may impact the upcoming festive fervour. We will have to wait and watch how the next two months will pan out,” RAI CEO Kumar Rajagopalan said.

In terms of categories, as per the RAI survey, sports goods grew 29 per cent last month against June 2019, followed by jewellery at 27 per cent, consumer durables and electronics, and quick service restaurants at 16 per cent each.

Apparel and clothing and footwear categories saw growth of 14 per cent each last month over June 2019, RAI said.