: Retail sales back to prepandemic rate: Survey #finance #StockMarketNEWS Retail sales back to pre-pandemic rate: Survey Mumbai, Oct 13 (KNN) According to the Retail Business Survey by the Retailers

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Retail sales back to prepandemic rate: Survey #finance #StockMarketNEWS
Retail sales back to pre-pandemic rate: Survey Mumbai, Oct 13 (KNN) According to the Retail Business Survey by the Retailers Association of India (RAI), the retail sales in September 2021 were at 96% of the pre-pandemic levels (September 2019), as against 88% in August 2021. However, as compared to September 2020, there is a 26% growth in sales in the month of September 2021.

Retail businesses across regions are nearing recovery indicating consumer sentiments are positive across the country. In categories, Consumer Durables & Electronics, Food & Groceries and Quick Service Restaurants (QSR) have fully recovered and are indicating double digit growth on pre-pandemic levels.

Sports Goods and Apparel & Clothing have also started to pick up pace as socialising and offices resume and some level of normalcy returns. However, categories such as Beauty & Wellness which include Salons, Footwear and Jewellery are yet to catch up to the pre-pandemic levels of sales.

Speaking about the retail sector’s outlook, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “The Retail sector has started showing signs of recovery with businesses indicating sales that are almost equal to the pre-pandemic levels. With consumer sentiments looking up, Dussehra and Diwali could well be the turnaround time for retail businesses, provided there is no third wave of the pandemic.”

The industry is looking forward to the festive season and hoping that the pandemic doesn’t impact consumer purchasing behaviour.

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