Last Updated: July 18, 2022, 15:48 IST
New Delhi: Retail companies throughout India witnessed 13 per cent gross sales development in June in comparison with the pre-pandemic ranges of the identical month in 2019, Retailers Association of India mentioned on Monday. Although gross sales final month have been larger than the pre-pandemic ranges, the second half of June was not very encouraging, and the influence of inflation on client spending remains to be a fear, which can have an effect on the upcoming festive gross sales, Retailers Association of India (RAI) ) mentioned in a press release.
As per RAI’s newest enterprise survey, retail companies within the jap area posted the best development final month, with an increase of 17 per cent over June 2019, adopted by the north at 16 per cent, west at 11 per cent and south at 9 per cent cent. “While June 2022 has witnessed development as in comparison with the identical interval earlier than the pandemic, the speed of development has positively slowed down. Many retailers have indicated that the second half of June was not very encouraging as there weren’t too many celebratory events, similar to weddings, to drive gross sales.
“The headwinds of inflation on consumer spending are still a worry and may impact the upcoming festive festival. We will have to wait and watch how the next two months will pan out,” RAI CEO Kumar Rajagopalan mentioned. In phrases of classes, as per the RAI survey, sports activities items grew 29 per cent final month towards June 2019, adopted by jewellery at 27 per cent, client durables and electronics, and fast service eating places at 16 per cent every. Apparel and clothes and footwear classes noticed development of 14 per cent every final month over June 2019, RAI mentioned.