India's retail business gets back its mojo; sector records healthy growth over pre-pandemic levels, across segments

In an optimistic news for the Indian economy, the retail business has reached its pre-Covid levels and in July 2022, the sales are up by almost 18 per cent from the 2019 levels. According to a survey conducted by the Retail Association of India (RAI), eastern part of India recorded the highest growth with over 25 per cent jump in July 2022 over the 2019 numbers. 

It was followed by South India region where 21 per cent growth was witnessed during the month. In the northern region, 16 per cent growth was recorded while in western region, the jump was nearly 10 per cent, this survey said. 

Category-wise, the sports segment witnessed a 32 per cent jump in July 2022 over the corresponding period in 2019. This is the highest jump among all other categories. It was followed by footwear segment, furniture and furnishing segments which recrded a 23 per cent increase. 

According to the RAI survey, the clothing category recorded a 22 per cent increase in sales in July 2022 over July 2019. As for categories like quck service restaurants, electronics and shoes, a 17 per cent rise was recorded. 

As compared to July 2019, the jewellery segment registered a growth of 15 per cent in July 2022. Meanwhile, food and grocery saw a jump of 11 per cent.

Segmenst including beauty, health and personal care, just 3 per cent growth was registered, according to the survey. 

The retail business has found its feet across the country and is now doing well. The retail business is exhibiting a health growth and has now reached the pre-covid levels. Important retail categories like clothing and footwear are showing stron traction among the consumers, RAI's Chief Executive Officer (CEO) Kumar Rajagopalan has said.