The 25th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in February 2022 showed growth of 6% as compared to the pre-pandemic sales levels (February 2020), and 10% when compared to sales level in the same month (February 2021) last year.
Speaking about the survey findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “While the data shows that retail businesses are inching towards normalcy, we need to consider that the growth shown is not adjusted to inflation and the possibility is that some categories are yet to get back quantitative growth.”
Retail businesses across regions have indicated growth in February 2022 with sales in West India showing growth of 9% as compared to February 2020 and 16% (Y-O-Y), East India has indicated growth of 6% as compared to February 2020 and 4% (Y-O-Y), while North India indicated growth of 4% as compared to February 2020 and 17% (Y-O-Y), and South India has indicated growth of 5% as compared to February 2020 and 4% (Y-O-Y).
Most categories are now indicating growth in business generated in February 2022 as compared to the previous two years.
Categories such as Consumer Durables & Electronics, Food & Groceries and QSR have indicated rapid growth of 31%, 33%, and 38% respectively as compared to February 2020, and 28%, 19% and 16% respectively as compared to February 2021 (Y-O-Y). Apparels and Footwear categories have also indicated double-digit growth (Y-O-Y) with a steady decline in the rate of COVID-19 cases.
Since most states have now lifted restrictions on store timings and retail operations, one can expect some sense of normalcy to return. However, inflation and the war situation in Ukraine will have some impact on business positivity.
