Retailers have reported a 13 percent growth in sales in June this year compared to the same month in 2019, according to a survey by the Retailers Association of India (RAI).
Categories such as sports goods, jewelry, and consumer electronics reported stronger growth in June compared to 2019 levels, as per the 29th edition of the Retail Business Survey. Retailers of sports goods reported a 29 percent growth in business, while jewelers reported a strong 27 percent sales growth in the same period.
“Sales across categories show a steady increase with sports goods and jewelry performing slightly better than other categories and quick service restaurants (QSR), footwear, and apparel indicating stable growth in June 2022," RAI said in its findings.
The numbers, however, slowed down towards the second half of June. In May retail sales were up 24 percent compared to pre-covid levels.
"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," Kumar Rajagopalan, CEO, Retailers Association of India said.
Rajagopalan also pointed to “headwinds of inflation" that he said impacted consumer spending. “It is still a worry and may impact the upcoming festive fervor. We will have to wait and watch how the next two months will pan out," he said.
Retailers in east India reported stronger growth in June followed by those in the north of the country. In June 2022, sales in east India were 17 percent compared to pre-pandemic levels of June 2019; retailers in north India reported a sales growth of 16 percent, while retailers in west India grew 11 percent in the period. Retailers in south India reported a growth of 9 percent. Compared to a year ago period though retail sales were up 53 percent in June.