: August 2021 sales stand at 88% of prepandemic levels; retailers hopeful to drive positive growth: RAI #FinanceIndia #StockMarketNEWS August 2021 sales stand at 88% of pre-pandemic levels; retailers

@StockMarketNEWS Thu 16 Sep, 2021

Posted in: #FinanceIndia #StockMarketNEWS

August 2021 sales stand at 88% of prepandemic levels; retailers hopeful to drive positive growth: RAI #FinanceIndia #StockMarketNEWS
August 2021 sales stand at 88% of pre-pandemic levels; retailers hopeful to drive positive growth: RAI Mumbai, Sept 15 (KNN) The retail sales in August 2021 were at 88% of the pre-pandemic levels (August 2019), as against 72% in July 2021, the Retailers Association of India (RAI) said in the 19th edition of the Retail Business Survey.

Speaking about festive season sales, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “As the festive season approaches and the inoculation drive picks up pace across the country, we are hopeful that the festive shopping this year will drive positive growth for most retailers, with the possibility of some retailers doing even better sales than the pre-pandemic levels. Though recovery at the moment looks encouraging across categories, retailers continue to maintain cautious optimism due to the possibility of a third wave of the pandemic.”

Retail businesses in the North and the South of India have indicated sales nearing recovery in August 2021 with sales at 98% and 97% respectively, of the pre-pandemic levels (August 2019), as against 78% (North India) and 82% (South India) sales in July 2021.

West and East of India are looking hopeful of recovery in the next few months and have indicated sales at 76% and 81% of pre-pandemic levels (August 2019) against 57% & 69% respectively in July 2021.

In categories, Quick Service Restaurants (QSR) are showing signs of growth with 12% sales in August 2021 as compared to sales in the pre-pandemic levels (August 2019), while Food & Groceries category is indicating a growth of 4%.

However, Beauty & Wellness, which includes Salons, Apparel, Footwear and Jewellery are yet to catch up to the pre-pandemic levels of sales. The overall industry sentiment will improve when the clothing and accessories category shows growth.

RAI hopes that the festive season will bring back cheer to the retail industry across sectors and those employed in it.

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