: Retail sales plunge in Jan 2022: RAI survey #FinanceIndia #StockMarketNEWS Retail sales plunge in Jan 2022: RAI survey New Delhi, Feb 15 (KNN) The retail sales dropped in January 2022 touching at

@StockMarketNEWS Tue 15 Feb, 2022

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Retail sales plunge in Jan 2022: RAI survey #FinanceIndia #StockMarketNEWS
Retail sales plunge in Jan 2022: RAI survey New Delhi, Feb 15 (KNN) The retail sales dropped in January 2022 touching at 91 per cent of the pre-pandemic sales levels (January 2019) due to the restrictions imposed by states in an attempt to curb the third wave of the pandemic, as per the survey by Retailers Association of India (RAI).

The survey is the 24th edition of the Retail Business Survey by RAI reporting that some of the states which allowed for retail to function with fewer limitations responding to the decline in the number of hospitalisations, others like Delhi and Haryana continued with heavy restrictions.

Nevertheless, the restrictions culminated into negative sales sending categories like beauty, wellness & personal care (-24 per cent ), furniture & furnishings (-12 per ent ), apparel & clothing (-7 per cent) and footwear (-4 per cent) back into the red as compared to pre-pandemic levels (January 2019), despite it being marriage season, said the survey.

Other categories that were on a steady growth trajectory such as CDIT too experienced a dip in sales growth rate.

Calling out the local level ad hoc restrictions that have been impacting retail businesses, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Responding to the steady decline in COVID-19 cases and hospitalisation rates across the country, most of the states across the country have allowed retail businesses to be open till late hours so that there is no crowding at any point in time. The only real worry is Delhi and Haryana that are still not allowing stores to be open till late, and this is creating a big impact on businesses while not helping solve the crowding issue. The restrictions continue to remain in place despite assurances from authorities about lifting the same. We do hope that Delhi and Haryana take a leaf from states like Maharashtra and allow all formats of retail to be open till late and be in consonance with practices across the country to accelerate the return to normalcy.”

The survey has also found that retail businesses across regions have indicated a drop with sales in South India at 98 per cent of the pre-pandemic levels (January 2019), North India at 92 per cent, West India at 89 per cent and East India at 87 per cent of the pre-pandemic levels (January 2019).

RAI has urged the Delhi and Haryana government to follow the steps taken by Maharashtra government which has lifted most of the restrictions allowing stores and retail establishments to remain open for longer hours realising that shorter hours create crowds.

(KNN Bureau)