Festivals, Weddings And Sports activities Drive Retail Gross sales Up In November
In comparison with November 2021, the retail gross sales grew 8 % within the west, 6 % within the south, 5 % within the east and 4 % within the North.
Festivals, weddings and different occasions, together with sports activities corresponding to FIFA World Cup, collectively pushed the retail gross sales up within the month of November this yr. in response to the Retailers Affiliation of India’s (RAI) retail enterprise survey, retail gross sales in November 2022 grew 6 % as in comparison with the year-ago interval and 15 % as towards the gross sales in November, 2019 –the pre-Covid interval.
The thirty fourth version of the RAI survey confirmed that the jap in addition to western areas of India witnessed a 17 % development in November this yr, whereas the north and south areas witnessed a development of 13 %. The retail gross sales had been led by the sports activities, footwear and jewelry trade. Electronics and fast-paced client items additionally witnessed substantial development.
“October and November witnessed a 17 % development, which is welcome however can’t be termed as spectacular. Inflation-led worries have dampened the power of some prospects to buy discretionary merchandise. Nevertheless, with the marriage season ringing in, we’ve seen a rise in purchases in jewelry, footwear, and clothes,” mentioned Kumar Rajagopalan, the CEO of RAI.
In the meantime, in comparison with November 2021, the retail gross sales grew 8 % within the west, 6 % within the south, 5 % within the east and 4 % within the North.
Given the marriage season, the jewelry trade witnessed a spike in gross sales of 23 % in November, in comparison with the identical month in 2019.
Whereas, the footwear trade noticed the biggest development of 29 % in comparison with November 2019.
Supply: RAIThe sports activities trade witnessed a 24 % rise in purchases as effectively in comparison with the pre-pandemic degree. The RAI mentioned there are two causes for a similar — the FIFA World Cup noticed Indians purchase merchandise to assist their groups and with the marathon season approaching, each newbie {and professional} runners could be shopping for crucial gear. “It may be the rationale why the footwear trade has seen a soar as effectively,” the RAI mentioned in a press release.
The electronics and client durables trade witnessed a 14 % improve in 2022 in comparison with the earlier yr, and a 4 % rise in comparison with 2019, primarily because of new launches.
“The rise in all chances are because of the launch of main manufacturers launching the most recent variations of their cell phones and different devices throughout this era,” mentioned a RAI assertion.
(Edited by : CH Unnikrishnan)
Source link