Retailers across the country grew 9% from pre-pandemic levels in November, with recovery trends continuing. But there is cautious optimism amid Omicron spread across the globe.
The recovery remains uneven across categories, with some showing growth from pre-pandemic levels, but others still reaching November 2019 levels.
The digital transformation of retail
According to the 22nd edition of the Retailers Association of India (RAI) Retail Business Survey, retail sales in November 2021 grew 9% from pre-pandemic (November 2019) levels and 16% compared to November 2020.
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Retailers Association of India (RAI) CEO Kumar Rajagopalan said: “Business is improving and we hope it continues. However, there are still concerns surrounding Omicron and the third wave, leading to a feeling of cautious optimism. “
He added that by focusing firmly on digital transformation, the industry has established a steady pace of recovery, which he hopes will accelerate in the coming year.
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Retail businesses in all regions have reported sales growth from pre-pandemic levels, the survey added. While the western region grew by 11%, eastern and southern India grew 9% from pre-pandemic levels. Meanwhile, the Northern region saw growth of around 6% from November 2019 sales levels.
“In categories, the CDIT, which did not show strong growth in October, posted good growth (32% compared to November 2019) in November as customers ended Diwali with certain purchases of CDIT products”, indicate the results of the investigation.
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At the same time, the sporting goods category saw growth of 18% and the clothing category showed steady growth of 6% from pre-pandemic levels. As food and grocery and quick service restaurants (QSRs) continue to indicate growth, categories such as footwear, beauty, wellness and personal care and furniture are gradually recovering, he added.
