Indian retailers cautiously optimistic about 2021: RAI



Pandemic-hit Indian retailers are cautiously optimistic about 2021, based on a survey by the Retailers Affiliation of India (RAI) that indicated a gentle month-on-month restoration for retail companies throughout India, with gross sales in November this yr being 13 per cent in need of the gross sales throughout the identical month in 2019. Festive procuring triggered the restoration.

“Retailers are transferring in the direction of 2021 with cautious optimism. Nonetheless, the trade is hopeful of attaining almost 85 per cent of pre-pandemic ranges of enterprise within the subsequent six months,” RAI chief govt officer Kumar Rajagopalan mentioned in an announcement.

In November, client durables and electronics class continued to recuperate with gross sales at 12 per cent yr on yr (YoY) and meals and grocery class have began to point gross sales development at 5 per cent YoY, whereas the attire and clothes section continues to be reeling underneath stress with almost minus 12 per cent YoY behind pre-pandemic gross sales.

Rajagopalan mentioned whereas the festive and the muted marriage ceremony season aided some restoration for sure segments, the shortage of inbound journey of non-resident Indians in the course of the winter has had a detrimental impression on gross sales.

He was of the view that retail companies might get additional affected by worldwide journey restrictions being imposed because of the new pressure of the virus.

As per the survey, ranges of restoration differ throughout areas as restrictions start to ease in a capricious method throughout states.

Western and japanese India are indicating a slower restoration with gross sales at minus 18 per cent YoY and minus 17 per cent YoY respectively, whereas northern and southern areas are each progressing at minus 9 per cent YoY.

Restoration would wish unconventional options and authorities help. At this juncture, all efforts are required to spice up the native financial system and assist revive the retail sector, saving tens of millions of jobs, mentioned a RAI assertion.

Fibre2Fashion Information Desk (DS)

Pandemic-hit Indian retailers are cautiously optimistic about 2021, based on a survey by the Retailers Affiliation of India (RAI) that indicated a gentle month-on-month restoration for retail companies throughout India, with gross sales in November this yr being 13 per cent in need of the gross sales throughout the identical month in 2019. Festive procuring triggered the restoration.





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