Indian retailers, December: According to the latest survey of Retailers Association of India, the Indian retailers are quite optimistic about realising around 85% of the pre-pandemic level in terms of business over the course of the next 6 months. Also, they are looking up to 2021 in a hopeful manner to improve the market scenario. This survey was its 10th edition which indicated that a steady month-on-month recovery would be taking place in retail businesses across the country as November month witnessed huge festive shopping.
November 2020 fell just 13 per cent short of sales as compared to the corresponding period last year. The survey claimed that the consumer durables and electronics category continued to recover in November month as it logged sales at 12% year-on-year. Simultaneously, the food and grocery sales saw a 5% growth year-on-year. Apparel and clothing segment struggled under pressure with minus 12 per cent year-on-year behind the pre-pandemic sales. The November sales proved to be a great relief as it marked Diwali celebrations and was followed by the wedding season as well.
The IANS reported that Kumar Rajagopalan, CEO, RAI said, “While the festive and the muted wedding season aided some recovery for certain segments, the lack of inbound travel of non-resident Indians during the winter has had a negative impact on sales. Retail businesses may get further impacted by international travel restrictions being imposed due to the new strain of the virus.” Furthermore, with local level restrictions coming back into play, retailers are moving towards 2021 with cautious optimism. However, the industry is hopeful of achieving about 85% of pre-pandemic levels of business in the next six months.”