The 16th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that retail sales in the month of May 2021 stood at -79 per cent of the pre-COVID level of sales on a Y-o-Y comparison with May 2019 as retail businesses across states were closed due to the second wave of the pandemic.
With sales at -34 per cent in May 2021 (Y-o-Y), categories such as Food & Grocery fared better than categories like Footwear (-86 per cent), Beauty, Wellness & Personal Care (-87 per cent) and Sports Goods (-80 per cent) as compared to pre-COVID sales levels (May 2019).
Retailers across regions are reflecting a deep fall in sales with Southern India at -73 per cent in May 2021 as compared to May 2019 pre-COVID sales, Eastern region at -75 per cent, while Western and Northern regions have indicated -83 per cent sales in May 2021 as compared to May 2019.
Many of the states have now slowly begun to open all forms of retail in a calibrated manner. Commenting on the current state of the retail industry, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said “Retailers are looking forward to some improvement in the month of June with gradual unlocking. However, the retail industry needs collective support of various government bodies to tide over the present situation.”
Retail businesses continue to face financial pressures on various fronts such as salaries, rentals, electricity charges and various taxes and license fees among others due to the pandemicinduced restrictions. Easing the burden will require collaborative efforts by various stakeholders.
Formal Retail Spaces are Essential to Revival of the Economy
Esta historia es de la edición June 2021 de Images Retail.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 2021 de Images Retail.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
How can Brands Delight Customers?
A look at strategies to bring customers back and turn them into potential brand advocates
Smaaash Mulls VR-only Arcades in Future
Avanish Agarwal, Consulting CMO, Smaaash sheds light on business, expansion plans and more
Meesho is Built Upon the Bedrock of Technology
Nilesh Gupta, General Manager, Growth at Meesho shares his insights on the growth factors, technology and relevance of the brand in tier 2 cities and beyond
High Streets Emerge Top Leasing Choice for Luxury Brands in 2023, Malls Remain Second
Malls remain the second most preferred luxury realty category, with 300% Y-o-Y growth with high streets lead with about 45% share in India’s overall luxury retail leasing in 2023
Special Events in Malls
Nexus Select Citywalk and Kiran Nadar Museum of Art (KNMA) organised the collaborative exhibition, ‘The Art Maze; from March 24 to March 31, 2024. Inspired by the works of prominent Indian artists - Lakshman Pai, Raja Ravi Verma, Jamini Roy, SH Raza, and Vivan Sundram; The Art Maze aimed to portray an immersive journey into the world of artistic expression for the participants anve d visitors.
CRA Realtors: Inspiring Trust
CRA Realtors boasts about 70% repeat customers, which speaks volumes about the trust the real estate agency has inspired over more than 18 years of existence
Why South India is Witnessing Renewed Retail Surge a
Industry leaders on the factors propelling retail growth in South India and their projections for future expansion metrics in the region
Tier 2 Cities Lead with 64% of March Store Launches
About 48 of all the new stores opened in March 2024 were in non-metros
5 Top Indian Jewellery Brands with the Strongest Retail Footprint
These homegrown jewellery retail gems have been instrumental in shaping the country’s jewellery sector and continue to shine bright amidst stiff competition on the global stage
Demand for Lab-grown Diamonds to Double by 2030. Here's Why
Exploring the different facets of this emerging segment that is increasingly attracting retailers, investors and consumers to it
