'Diwali Delight' as sales rebound across many categories-Kumar Rajagopalan CEO, Retailers Association of India (RAI)

13 November 2021, Mumbai:

Retailers Association of India (RAI), an industry group of organized retailers, on Monday said the festive season has come as a ray of hope for the industry with Diwali sales indicating that certain categories have started to show growth as compared to the same period last year.

RAI said festive-induced SHOPPING has added some impetus to the apparel sector with growth only in the occasion wear and leisurewear segments.

It said luxury brands and occasion wear brands have indicated double-digit growth, while formal office wear segment and services-led retail-like salons are still at about 35% short of last year’s sales during the Diwali period.

 
However, athletic wear including shoes has reported 20% growth as compared to last year’s Diwali.

Products related to work from home continued to report faster recovery, especially electronics and consumer durables with some segments registering double-digit growth of about 15% to 18% as compared to last year’s Diwali period.

But there has been a 10% fall in sales of home items over last year.

In value retail, there has been 10% sales growth over last year during the same period, pharmacy and daily needs markets have done well though some food retailers are still recovering slowly with Diwali business de-growing by 10% over last year.

RAI CEO Kumar Rajagopalan said the seasonal shopping trends have been greatly influenced by the pandemic situation this year.

“The Diwali shopping season has boosted retail sales of certain categories, however, the overall festive spike has been lacking last year’s level. Occasions wear has witnessed an uptick in sales as weddings that were hitherto postponed are happening now. However, lack of inbound travel of non-resident Indians during the winter had a negative impact on sales,” he said.

RAI reported tier II and tier III markets achieved the same level of sales as the Diwali shopping period last year, and in some cases, slight growth in sales has been indicated. South and eastern India have performed better during this period than western and northern India.

ET  (The news article has not been edited by DFU Publications staff)

 

 

 

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