Retail business in March grew by 28% compared to last year: RAI Survey

New Delhi, April 12 (KNN) Retail business in March 2022 increased by 28 per cent as compared to the sales level in March 2021 (YoY).

When put against the sales level of March 2019 the growth is at 12 per cent, as per the latest RAI survey.

The Retailers Association of India (RAI) released its 26th edition of the Retail Business Survey on Tuesday.

Sharing his views on 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 including categories that were hitherto showing weak sales like garments and footwear.”

However, when we look at the performance, one needs to factor in the inbuilt inflation in most products like garments, electronics and some FMCG products, he added.

With regards to regional sales growth in March 2022, West India showed the highest rate of growth at 37 per cent (Y-o-Y), with North India at the second position with a growth of 28 per cent (Y-o-Y).

East India indicated a growth of 26 per cent (Y-o-Y), and South India indicated 21 per cent (Y-o-Y), said the report.

Retailers are hopeful that quantitative growth will be restored and business will be back on a steady growth trajectory in FY 2022 as restrictions are lifted and consumers are stepping out to catch up on their social lives, stated the survey. (KNN Bureau)