Retail Industry Witnesses De-Growth of 49 pc in April?

As India battles the severe second wave of Covid-19 and states undergo lockdowns, retailers across the country have witnessed a sales de-growth of 49 percent in April compared to the same period of 2019.
 
In March, the nationwide sales de-growth was recorded at 12 percent, reveals a survey by the Retailers Association of India.

Region-wise, western India was the most impacted in April with a contraction of 72 percent, followed by 45 percent in the north. South and eastern India witnessed a contraction of 40 percent and 38 percent, respectively, in retail sales last month.

Among the sectors, sales of sports goods and footwear contracted by 66 percent and 61 percent, respectively, followed by a 59 percent de-growth in both jewelry and beauty, wellness, and personal care categories.

Other categories - food and grocery, apparel and clothing, quick service restaurant, and consumer durables and electronics -- witnessed a sales contraction of 49 percent, 47 percent, 45 percent, and 31 percent, respectively.

Earlier this month, the industry body urged the government to take steps for capital infusion into the retail industry with ECLGS benefits and loan moratorium in the wake of the lockdowns, restrictions, and their impact on the retail sector.