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Tuesday, 19 July 2022

Apparel sales witness 14% growth in June 2022 compared to June 2019: RAI

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Apparel sales in the retail market witnessed 14 per cent growth in June 2022 compared to June 2019 (pre-pandemic), which is fourth highest after sports goods, jewellery, consumer durables & electronics and quick service restaurants (QSR).

Compared to June 2021, the growth is 63 per cent.

Retailers Association of India (RAI) business survey indicates that in June 2022, overall retail businesses across India reported a growth of 13 per cent in sales as compared to pre-pandemic levels (June 2019).

Kumar Rajagopalan, CEO, RAI, commented about the findings, “While June 2022 has witnessed growth as compared to the same period before the pandemic, the rate of growth has definitely slowed down. Many retailers have indicated that the second half of June was not very encouraging as there weren’t too many celebratory occasions such as weddings to drive sales. The headwinds of inflation on consumer spending is still a worry and may impact the upcoming festive fervour. We will have to wait and watch how the next two months will pan out.”

RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India.

Source : https://in.apparelresources.com/