Retailers in the country recorded a double-digit growth over pre-pandemic levels in May even as inflationary concerns persist. As per the latest survey by Retailers Association of India (RAI), retail businesses across India reported an average growth of 24 per cent in May this year compared to May 2019.
While retailers in the western region reported sales growth of 30 per cent in May 2022 compared to May 2019, it was 29 per cent in the eastern region, 16 per cent in the northern region and 22 per cent in the southern region.
With the out-of-home channel picking up strongly, categories such as quick-service restaurants (42 per cent) and footwear (30 per cent) witnessed rapid growth.
Kumar Rajagopalan, CEO,RAI, said, “It is encouraging to see a steady improvement in sales with 23 per cent growth in April and 24 per cent in May as compared to the pre-pandemic levels. Categories such as garments and footwear have begun to do well on account of the ongoing wedding season and due to the resumption of work from office. While the worry around inflation continues, customers are willing to come out and shop as socialising is picking up pace.
Even categories such as beauty and wellness (9 per cent), and furniture and furnishing ( 3 per cent) are back on the growth trajectory. Growth in categories such as apparel and clothing, jewellery, sports goods and food grocery was pegged at 23-24 per cent. Consumer durables sales were up 15 per cent in May compared to the pre-pandemic levels, the RAI survey noted.