Indian retailers expect decline in business: Survey
Indian retailers expect a 64 per cent de-growth in their businesses in the first half of July as compared to the same period last year as the Indian retail sector continues to face hurdles at state and local levels making recovery all the more distant, according to the fourth edition of a business survey conducted by the Retailers Association of India (RAI).
A few categories like food and grocery and consumer durables have started showing some signs of improvement with overall de-growth now at 45 per cent and 30 per cent respectively, compared to the same period last year, the survey found.
Within the consumer durables category, large-sized retailers indicated a de-growth of 21 per cent, whereas within food and grocery, small and medium-sized retailers reported a de-growth of 35 per cent, RAI said.
In terms of categories, apparel and clothing declined by 74 per cent, footwear was down by 74 per cent, jewellery, watches and personal accessories were down by 78 per cent, while furniture and furnishing witnessed a drop of 63 per cent.
The survey found sports goods sales dropped by 68 per cent, beauty, wellness and personal care decreased by 71 per cent, and quick service restaurants declined by 73 per cent.
Regionwise, RAI said all regions are equally beaten for sales growth with east at 62 per cent decline, while west dropped 69 per cent, north declined 68 per cent and south also saw a dip of 58 per cent in the first half of July this year as compared to the same period last year.
