21 December 2022, Mumbai
Indian retailers posted a 15 per cent growth in sales in November 2022 over pre-pandemic levels. So says Retailers’ Association of India.
This growth was led by segments such as footwear, sports goods and jewellery. However the impact of inflationary challenges on the discretionary segment was visible. Retailers in the eastern and western regions grew by 17 per cent compared to November 2019. In the northern and southern regions, sales were up 13 per cent each. With the wedding season in the offing there was an increase in purchases in jewellery, footwear, and garments. While the footwear segment grew by 29 per cent in November 2022 over pre-pandemic levels, sales of sports goods were up nearly 24 per cent.
Sales of sporting goods and footwear got a boost due to consumers’ purchasing merchandise for the FIFA World Cup to support their favourite teams as well as the marathon season.The wedding season helped jewellery sales grew 23 per cent over pre-pandemic levels in November 2022. Furniture and furnishing sales were up 18 per cent while that of the apparel and clothing segment was up 14 per cent. Food and grocery sales grew by 13 per cent in November over pre-pandemic levels. Consumer durables and electronics sales were up about four per cent compared to pre-pandemic levels due to the key festival season being in October in 2022.
