RAI, Auto News, ET Auto

Retail enterprise in India grew 10% in February this 12 months in comparison with the gross sales degree in the identical month final 12 months, signalling that the sector is inching in the direction of normalcy, RAI stated on Monday. In keeping with the most recent enterprise survey by the trade physique Retailers Affiliation of India (RAI), the rise witnessed final month marks a development of 6% in comparison with February 2020.

Retail companies throughout areas have indicated development in February 2022, with gross sales in West India rising 16% in opposition to the identical month final 12 months, RAI stated in a press release.

East India noticed a development of 4% in opposition to the year-ago month, whereas North India grew 17% as in comparison with February final 12 months.

Equally, South India additionally witnessed a development of 4% in opposition to February final 12 months, it added.

Commenting on the findings, RAI CEO Kumar Rajagopalan stated, “Whereas the info exhibits that retail companies are inching in the direction of normalcy, we have to contemplate that the expansion proven isn’t adjusted to inflation and the chance is that some classes are but to get again quantitative development”.

RAI stated most classes are actually indicating development in enterprise generated in February 2022 as in comparison with the earlier two years.

Classes corresponding to client durables and electronics, meals and groceries and QSR have indicated fast year-on-year development of 28%, 19% and 16%, respectively, it added.

Apparels and footwear classes have additionally indicated double-digit development with a gentle decline within the price of COVID-19 instances.

“Since most states have now lifted restrictions on retailer timings and retail operations, one can count on some sense of normalcy to return. Nevertheless, inflation and the conflict scenario in Ukraine may have some impression on enterprise positivity,” RAI stated.

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