: October retail business grows by 19% as compared to prepandemic levels #FinanceIndia #StockMarketNEWS October retail business grows by 19% as compared to pre-pandemic levels New Delhi, Nov 14 (KNN)

@StockMarketNEWS Tue 22 Nov, 2022

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October retail business grows by 19% as compared to prepandemic levels #FinanceIndia #StockMarketNEWS
October retail business grows by 19% as compared to pre-pandemic levels New Delhi, Nov 14 (KNN) According to the latest Retail Business Survey by the Retailers Association of India (RAI) the sales in October 2022 showed a 19 per cent growth when compared to pre-pandemic sales level (October 2019).

While it showed growth of 15 per cent as compared to the sales levels in October 2021(YoY), said the 33rd edition of the survey.

Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories.”

“In order to understand the complete impact of the festival season on retail sales, it is essential to see the figures of October and November combined,” he said.

Rajagopalan opined that RAI would await the results for the month of November to draw definitive conclusions.

“However, all the signs indicate a positive trend,” he said.

Retail businesses across regions have indicated growth in sales as compared to pre-pandemic levels with West India signalling growth of 25%.

South India and East India indicate a growth of 18% each followed by North India at 14% as compared to sales levels in October 2019.

In categories, Consumer Durables and electronics have indicated a growth of 38% followed by Quick Service Restaurants (QSR- 33% growth) as compared to sales levels in October 2019.

Sports Goods and Food & Groceries continue to indicate growth at 30% and 23% sales respectively compared to pre-pandemic levels (same period in 2019) respectively. (KNN Bureau)