Green shoots of recovery visible in retail business, but yet to reach last year’s levels: RAI

Consumer durables and electronics category recorded positive sales growth in October as compared to last year as retailers overall continued to witness a steady month-on-month recovery, although business is yet to reach last year’s levels, according to a survey by .

Green shoots of recovery visible in retail business, but yet to reach last year's levels: RAI

As per its 9th round of business survey, the Retailers Association of India (RAI) said consumer durables and electronics category saw a growth of 8 percent in October, a further increase from 2 percent growth witnessed in September.

“While consumer durables have done well, other categories (are) yet to recover significantly,” the survey said.

In October, apparel and clothing sales saw 35 percent decline, while beauty, wellness and personal care witnessed a 55 percent dip in sales.

Footwear category also clocked 30 percent decline, while quick service restaurants saw a degrowth of 35 percent.

Commenting on the findings, , CEO, RAI said, “We are beginning to see green shoots of recovery with a steady month-on-month improvement for businesses. However, we are yet to catch up to last year’s levels.”

Further improvement in business will depend on how the pandemic situation further plays out and how fast the businesses can go towards recovery, he added.

Across India, RAI said, the survey showed that the overall decline in business was at 31 percent, an improvement from 50 percent decline in Q2 and 78 percent drop in Q1.

Region wise, south India was better placed with an overall decline of 24 percent in October, followed by east with 27 percent dip and north with 28 percent degrowth. West India was the worst affected with 43 percent decrease in October.