Empowering MSMEs with News & Insights

Footwear and quick service restaurant industries top contributors in Retail sector: RAI

Updated: Dec 24, 2022 07:46:24am

Footwear and quick service restaurant industries top contributors in Retail sector: RAI

New Delhi, Dec 24 (KNN) The retail industry clocked sales growth of 19 per cent in the April-November period over pre-pandemic levels, Retailers Association of India (RAI) said on Friday.

"The industries that did particularly well during this period were the QSR (quick service restaurant) and the footwear industries, with a 30 per cent growth compared to 2019," RAI said.


As per the region wise data, the eastern part witnessed the highest growth at 21 per cent followed by North India at 19 per cent and South India at 18 per cent in the same period pre pandemic.

The beauty, wellness and personal care industry only saw a 7 per cent growth as against the same period in 2019, it added.

"Consumers are back to shopping in stores, and it's something they enjoy even as they continue to buy online," RAI CEO Kumar Rajagopalan said.

RAI Chairman Bijou Kurien said in the last two years witnessed dramatic changes in the Indian retail industry and adoption of technology by offline retailers saw a quantum jump.

On the outlook for 2023, he said, "Retail in India is expected to grow better than all other key markets across the world. Omnichannel retail has become the norm for retailers."

He further said concepts like ONDC (Open Network for Digital Commerce) will enable millions of small retailers to participate in digital commerce.

"However, the coronavirus worry still looms large in other countries and inflation creates headwinds for retail. Having said that, the occasion-wear market (festivals, weddings, etc.) will thrive in the country if no Covid-19 restrictions are introduced," he said.  (KNN Bureau)


    Be first to give your comments.


Required fields are marked *