Retail Sales Grow 28% In March As Economy Opens

Retail sales in March grew by 28 per cent as compared to the same month last year with the removal of pandemic-related restrictions driving all-round growth of retail businesses across the country, industry body RAI said on Tuesday.

According to the latest Retail Business Survey by Retailers Association of India (RAI), region-wise, west showed a growth of 37 per cent, while the north clocked a 28 per cent increase. Similarly, the east saw a growth of 26 per cent while the south registered a 21 per cent increase in overall retail sales in March 2022.

The overall retail sales last month grew by 12 per cent as compared to the pre-pandemic levels of March 2019, RAI said in a statement.

In terms of categories, consumer durables and electronics clocked the highest growth at 45 per cent, followed by furniture and furnishing, and food and grocery at 26 per cent each.

Sports goods, apparel, and clothing categories also posted growth of 26 per cent each, the survey said.

While the footwear segment grew by 24 per cent, the QSR category saw a growth of 21 per cent last month, it added.

"The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories including categories that were hitherto showing weak sales like garments and footwear," RAI's CEO Kumar Rajagopalan said.

However, "When looking at the performance, one needs to factor in the inbuilt inflation in most products like garments, electronics, and some FMCG products," he added.

With the restrictions gone, offices have resumed normal working and consumers are stepping out to catch up on their social lives, RAI said.

"Retailers are hopeful that quantitative growth will be restored and business will be back on a steady growth trajectory in FY 2022," it added.