The Retailers Association of India (RAI), in the fifth edition of its fortnightly business survey, reported a 63-per-cent year-on-year decline in retail sales during July. The massive decrease compares favorably with that recorded for June (67 percent) and April (more than 80 percent).
The trend towards recovery was most pronounced in the food & grocery and consumer durables product categories, but not apparent in the apparel, sports goods, and beauty & wellness sectors.
The statistics signal challenges still facing retailers despite the easing of India’s lockdown last month.
Kumar Rajgopalan, CEO, RAI said, though the Unlock 3.0 creates a possibility of significant sales recovery for retail businesses, localized lockdowns, weekend curfews, and not allowing formats like food courts and cinema halls to reopen are creating roadblocks on the path to revival.