RAI real survey shows 16% growth over pre-pandemic levels
By Retail4Growth Bureau | January 20, 2023
In categories, Footwear reported a growth of 29% followed by Jewellery (26%) and Sports Goods (25%) as compared to the sales levels in December 2019.
The 35th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in December 2022 showed growth of 16% as compared to the sales levels during the same period in December 2019 i.e. pre-pandemic.
Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Customers are spending carefully on discretionary products. While it's growth, it's cautious growth.”
Retail businesses across regions have indicated growth in sales as compared to pre pandemic levels with East India signaling growth of 20%, while South India and West India indicate a growth of 18% and 16% respectively followed by North India at 10% as compared to sales levels in December 2019.
In categories, Footwear reported a growth of 29% followed by Jewellery (26%) and Sports Goods (25%) as compared to sales levels in December 2019.
Furniture throughout the year was showing muted growth but now has shown healthy growth (19% sales compared to pre-pandemic levels - 2019). Money spent on travel, setting up of new houses and occasions are showing growth.
However, growth for day to day consumption is muted.