October 2022 Retail Sales Increase 15 pc over Last Year
October 2022 Retail Sales Increase 15 pc over Last Year

Retail sales in October this year increased by 15 percent over October last year and 19 percent over pre-pandemic levels, that is, October 2019 owing to the festive push.

According to the latest retail business survey by the Retailers Association of India (RAI), while businesses across the country witnessed growth in sales, West India led with a 25 percent sales rise this October compared to October 2019.

Moreover, South India and East India grew at 18 percent each followed by North India at 14 percent.

“The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories,” commented Kumar Rajagopalan, CEO, RAI adding that in order to understand the complete impact of the festival season on retail sales, the figures of October and November combined need to be assessed.

“We would await the results for the month of November to draw definitive conclusions. However, all the signs indicate a positive trend,” added Rajagopalan.

As per the findings of the survey, in terms of categories, consumer durables and electronics reported the highest growth of 38 percent followed by quick service restaurants at 33 percent over pre-COVID levels.

The report added, sports goods and food and groceries also recorded strong growth in October sales at 30 percent and 23 percent, respectively compared to the same period in 2019.

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