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
This story is from the June 2021 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 2021 edition of Images Retail.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Here's How India Shops Online
Over 60% of people prefer shopping via apps over websites with a clear preference for marketplace apps
Why Are More And More Retail Brands Advertising Online?
Returns on investment ranging from 2%-10% from their digital ad spends is just one of the reasons why brands and retailers across categories are taking to online advertising
Mini Mall, Mega Experiences
Lulu Group’s first mini mall brings the best of retail to the aspiring consumers of the tier 3 town of Palakkad in Kerala
How Daalchini is Spicing up Micro Retail in India
Through its smart vending machines, the Noida-based company is offering 24/7 convenience to customers, reach to over 200 brands and new business opportunities to entrepreneurs
AI, Cloud and SaaS Play a Pivotal Role for Banjaaran Studio
Banjaaran Studio’s founder Meera Dureja on the brand story, business model and adding a modern touch to traditional shoemaking
How Myntra, Amazon, Shoppers Stop, Peesafe & Indiamart are Using AI for CX
From improving product recommendations and personalised fit suggestions to delivery, here’s how retail biggies are using artificial intelligence to offer delightful customer experiences
Store Launches Surge 23% in Feb
While the number of store openings increased, fundraises in the month dropped significantly
The Government Realises the Importance of Domestic Market
Rahul Mehta, Chief Mentor of CMAI on Indiasize, the government’s focus on domestic retail, industry’s asks and more
In 3 years, PepsiCo India Doubled its Previous 30-year Capacity
As the director of channel, customer and go-to-market (GTM) development for PepsiCo India, Anand Mohan Sharma has anger on the pulse of India’s consumption story—especially in the food and beverage segment.
A Look at the Indian Athleisure Market Play
The dimensions, driving forces, and potential of the Indian athleisure market