Indian retail businesses continue to be stressed and are finding it tough to sustain due to restricted timing of operations and weekend closures, according to Retailers Association of India (RAI) chief executive officer Kumar Rajagopalan, who recently said retail sales declined by 50 per cent in June. Apparel sales dipped by 52 per cent in June compared to the same month in 2019.
The eastern zone witnessed the highest 55 per cent decline, followed by the western and southern zones with declines of 50 per cent each, and then by the northern zone with a dip of 43 per cent compared to June 2019.Indian retail businesses continue to be stressed and are finding it tough to sustain due to restricted timing of operations and weekend closures, according to Retailers Association of India chief executive officer Kumar Rajagopalan, who said retail sales declined by 50 per cent in June. Apparel sales dipped by 52 per cent in June compared to June 2019.#
However, the June performance was far better compared to May when the overall retail business in India declined by 79 per cent as compared to the same month in 2019.
In May, apparel had a negative growth of 77 per cent compared to May 2019.
Footwear also recovered slightly with a 61 per cent decline in June. It witnessed a negative growth of 86 per cent in May when compared to the same month in 2019.
In its latest business survey, RAI said the highest decline was witnessed in the sports goods category at 66 per cent, while foods and grocery had the least, with a dip of just 7 per cent compared to June 2019.
ALCHEMPro News Desk (DS)
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