Retail sales register growth of 24% in May compared to pre pandemic levels
News: As per Retailers Association of India survey, the retail businesses across India witnessed a growth of 24% in May this year against the pre-pandemic level of the same month in 2019.
Views: Owing to resumption of work from offices restarting of schools and the ongoing wedding season, the sales of apparel and footwear has shown good traction. Category wise Footwear has grown by 30% and food and grocery has grown by 23%, while beauty and wellness products have also started to show positive trend with a growth of 9% compared to pre pandemic level in May 2019. Improved consumer sentiment and increased socialising is expected to provide thrust to discretionary spending aiding revenue growth for Indian fashion and lifestyle retailers.
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