: Retailers pin hope for buoyancy in sales on festive season #FinanceIndia #StockMarketNEWS Retailers pin hope for buoyancy in sales on festive season New Delhi, Aug 17 (KNN) Retailers Association of

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Retailers pin hope for buoyancy in sales on festive season #FinanceIndia #StockMarketNEWS
Retailers pin hope for buoyancy in sales on festive season New Delhi, Aug 17 (KNN) Retailers Association of India (RAI) is expecting significant recovery in sales in the upcoming festival season, provided restrictions on modern retail are relaxed across the country.

“There is a possibility of significant sales recovery for retail businesses as the festive season approaches, provided restrictions on modern retail are relaxed across the country allowing smooth operations and return to normalcy,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI) on Tuesday.

The 18th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that retail sales in July 2021 were at 72 per cent of the pre-pandemic levels (July 2019), as against 50 per cent in June 2021.

Retail businesses in the South of India have indicated a very sharp comeback in July 2021 with sales at 82 per cent of the pre-pandemic levels (July 2019), as against 50 per cent sales in June 2021.

However, Western India is yet to improve and has indicated sales at 57 per cent of pre-pandemic levels (July 2019) against 50 per cent in June 2019. This is mainly because of prolonged curbs in Maharashtra that disrupted the smooth functioning of modern retail in the State.

In categories, Quick Service Restaurants (QSR) recovered the best in July 2021 with sales at 97 per cent of the pre-pandemic levels (July 2019). However, Beauty & Wellness, which includes Salons, is still at 50 per cent of pre-pandemic sales, while Apparel is at 63 per cent sales of the pre-pandemic levels in July 2021.

Retail is the fastest growing sector in terms of employment generation and is second only to agriculture in terms of the number of people it directly employs, besides creating indirect employment opportunities. Opening up of retail will give businesses a chance at recovery, saving the livelihood of millions who are dependent on the retail ecosystem.

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