India has witnessed a 49 per cent decline in apparel sales in April compared to the same period of 2019, according to a survey by the Retailers Association of India (RAI).
In March, the nationwide sales declined by 12 per cent, showed the survey. Region-wise, western India was the most impacted in April with a contraction of 72 per cent, followed by 45 per cent in the north. South and eastern India witnessed a contraction of 40 per cent and 38 per cent, respectively, in retail sales last month.
Among the sectors, sales of sports goods and footwear contracted by 66 per cent and 61 per cent, respectively, followed by a 59% de-growth in both jewellery and beauty, wellness and personal care categories. Other categories - food and grocery, apparel and clothing, quick service restaurant and consumer durables and electronics -- witnessed a sales contraction of 49 per cent, 47 per cent, 45 per cent and 31 pre cent, respectively.
Earlier this month, the industry body urged the government to take steps for capital infusion into the retail industry with ECLGS benefits and loan moratorium. Kumar Rajagopalan, CEO, RAI, said the two most important and immediate steps that can prevent this industry from collapsing are to prioritize vaccination of the last mile workers and to urgently provide financial support.
RAI also recommended that the Ministry of Finance and the Reserve Bank of India to step in to bring some relief to the mounting stress on the retail business in the wake of second wave of COVID-19. It further sought a moratorium on principal and interest for six months for the 26 stressed sectors.
