Strong sales trend in malls to aid revenue growth of domestic retailers
News: As per media reports , most malls and shopping centres have seen 20-30% growth in sales during the June quarter.
Views: As per various industry stakeholders, per square feet trading is higher than pre-Covid times and footfalls are 80% of pre-Covid sales. Sales of most brands and retailers are 20-30 % higher than the corresponding quarter in FY 20. We believe that the first disruption free quarter in almost two years is fuelling strong demand across product categories which augurs well for domestic brands and retailers. Also higher proportion of spend on discretionary products and operating leverage would aid the margin trajectory enabling retailers to post a strong performance in Q1FY23.
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