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Compared to November 2021, the retail gross sales grew 8 p.c within the west, 6 p.c within the south, 5 p.c within the east and 4 p.c within the North.
Festivals, weddings and different occasions, together with sports activities comparable to FIFA World Cup, collectively pushed the retail gross sales up within the month of November this 12 months. based on the Retailers Association of India’s (RAI) retail enterprise survey, retail gross sales in November 2022 grew 6 p.c as in comparison with the year-ago interval and 15 p.c as in opposition to the gross sales in November, 2019 –the pre-Covid interval.
The thirty fourth version of the RAI survey confirmed that the jap in addition to western areas of India witnessed a 17 p.c progress in November this 12 months, whereas the north and south areas witnessed a progress of 13 p.c. The retail gross sales had been led by the sports activities, footwear and jewelry trade. Electronics and fast-paced client items additionally witnessed substantial progress.
“October and November witnessed a 17 percent growth, which is welcome but can’t be termed as spectacular. Inflation-led worries have dampened the ability of some customers to purchase discretionary products. However, with the wedding season ringing in, we have seen an increase in purchases in jewellery, footwear, and garments,” stated Kumar Rajagopalan, the CEO of RAI.
Meanwhile, in comparison with November 2021, the retail gross sales grew 8 p.c within the west, 6 p.c within the south, 5 p.c within the east and 4 p.c within the North.
Given the marriage season, the jewelry trade witnessed a spike in gross sales of 23 p.c in November, in comparison with the identical month in 2019.
Whereas, the footwear trade noticed the most important progress of 29 p.c in comparison with November 2019.
Source: RAIThe sports activities trade witnessed a 24 p.c rise in purchases as nicely in comparison with the pre-pandemic degree. The RAI stated there are two causes for a similar — the FIFA World Cup noticed Indians purchase merchandise to help their groups and with the marathon season approaching, each beginner {and professional} runners can be shopping for crucial tools. “It could also be the reason why the footwear industry has seen a jump as well,” the RAI stated in an announcement.
The electronics and client durables trade witnessed a 14 p.c improve in 2022 in comparison with the earlier 12 months, and a 4 p.c rise in comparison with 2019, primarily because of new launches.
“The rise in all likelihood is due to the release of leading brands launching the latest versions of their mobile phones and other gadgets during this period,” stated a RAI assertion.
(Edited by : CH Unnikrishnan)
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