Retail sales to fall in May due to Covid 2.0
Due to the lockdown in many states in the country, India’s retail business has dropped by 79% in May as compared to the same figure during the pre-pandemic times of 2019, says the Retailers’ Association of India.
New
Delhi
Due to the lockdown in many states in the
country, India’s retail business has dropped by 79% in May as compared to the
same figure during the pre-pandemic times of 2019, says the Retailers’
Association of India (RAI).
As per the data,
the categories like personal care and beauty wellness have been affected the
most and have seen a drop of 87% followed by the footwear category that saw a
drop of 86%. The clothing department witnessed a dip of 77% whereas restaurant
service plunged by 70%. The purchase of sports, jewellery, and electronics
dropped by 80%, 76%, and 71% respectively. Retail auto sales and grocery
segment dipped by 55% and 34% each.
According to the
region-wise survey by RAI, sales in southern India were down 73% in May 2021,
eastern by 75%, West and North by 83%. According to Kumar Rajagopalan, CEO,
RAI, the retailers are expecting an improvement in June with the unlocking of
states. He added that the retailers need support from the government to deal
with the current situation.
Source – The Indian Express
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