The retail sales in November 2021 showed 9 percent growth over the pre-pandemic levels (November 2019) and 16 percent (YoY) growth (compared to November 2020).
Also, across regions, retail businesses have indicated growth in sales as compared to pre-pandemic levels with West India signaling the growth of 11 percent, followed by East and South India at 9 percent while North India indicated a growth of 6 percent each as compared to sales levels in November 2019, according to a recent survey by the Retailers Association of India (RAI).
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Business is improving and we do hope that this will sustain. However, there are still worries around Omicron and the third wave, leading to a feeling of cautious optimism.”
In categories, CDIT (Consumer Electronics, Durables, IT, and Telecom) which did not show great growth in October showed good growth (32 percent as compared to November 2019) in November since customers ended Diwali with some CDIT product purchases.
Furthermore, Sports Good category reported a growth of 18 percent and the Apparel category indicated a consistent growth at 6 percent compared to November 2019. While Food and Groceries and Quick Service Restaurants (QSR) continue to indicate growth, categories such as Footwear, Beauty, Wellness & Personal Care, and Furniture are inching towards recovery.
Experts believe with a firm focus on digital transformation, the industry has set a steady pace of recovery, which the industry hopes will accelerate in the coming year.