: Retail sales down by 50 per cent in June: RAI survey #FinanceIndia #StockMarketNEWS Retail sales down by 50 per cent in June: RAI survey New Delhi, Jul 21 (KNN) Retail sales in India declined by 50
@stockMarketNEWS Thu 22 Jul, 2021
Retail sales down by 50 per cent in June: RAI survey #FinanceIndia #StockMarketNEWS
Retail sales down by 50 per cent in June: RAI survey New Delhi, Jul 21 (KNN) Retail sales in India declined by 50 per cent in June due to the continued restrictions in the wake of COVID second wave, as compared to the same month in 2019, said Retailers Association of India (RAI).
According to retailers body survey, the highest decline was witnessed in the sports good’s category at 66 per cent, while the foods and grocery had the least with a dip of just 7 per cent as compared to June 2019.
"Retail businesses continue to be stressed and are finding it difficult to sustain due to restricted timing of operations and weekend closures," RAI Chief Executive Officer Kumar Rajagopalan said in a statement on Monday.
Geographically, the eastern region of India was most impacted, with retail sales down 55 percent in June 2021 followed by Southern and Western regions of India which saw a 50 per cent decline in retail sales. North witnessed a decline of 43 per cent when compared to June 2019.
However, the June performance was far better compared to May when the overall retail business in India declined by 79 per cent as compared to the same month in 2019.
Showing signs of recovery, the beauty, wellness, and personal care category had a dip of 57 per cent in June as compared to the same month in 2019.
The most impacted category was sports goods, which saw a 66 percent decline in sales in June 2021, followed by jewellery (-64 percent) and footwear (down 61 percent).
The apparel and clothing dipped by 52 per cent in June this year as against the same month in 2019.
Footwear also recovered slightly with a 61 per cent decline in June while the Consumer durables and electronics had a decline of 46 per cent in June as compared to the same month in 2019.
The segment had posted a dip of 71 per cent in May as compared to May 2019.
One category that has seen recovery is Quick Service Restaurants (QSR) that has seen a sharp recovery compared to May. While QSR sales were down 70 per cent in May 2021, it was down only 10 per cent in June 2021.