The association that tracks monthly retail sales said in its assessment for the month of November, said “The jewellery industry, given that it is wedding season, also witnessed a spike in sales. Compared to 2019, the industry saw a 23% rise in November 2022. The footwear industry witnessed the largest growth when compared to 2019. In November 2022, the footwear industry saw a 29% increase in sales compared to 2019."
Meanwhile, the consumer durables and electronics sector reported a 14% jump in sales compared to the year ago period. The number increased 4% compared to 2019. RAI linked this demand to efforts by large brands to launch more products in the market and drive attractive offers.
The sporting goods industry, too, witnessed a 24% jump in sales compared to the pre-pandemic period.
“There are two reasons—first, the recently concluded FIFA World Cup saw Indians purchase merchandise to support their favourite teams. Secondly, with marathon season approaching (Mumbai Marathon, Delhi Half Marathon), runners – both amateur and professional – would be buying necessary equipment. It could also be the reason why the footwear industry has seen a jump as well," RAI said.
Of the regions, retail sales in eastern and western parts of India witnessed a growth of 17% in November 2022, while north and south India saw a 13% growth, the data revealed.
“October and November witnessed a 17% growth, which is welcome but can’t be termed as spectacular. Inflation-led worries have dampened the ability of some customers to purchase discretionary products. However, with the wedding season ringing in, we have seen an increase in purchases in jewellery, footwear, and garments," Kumar Rajagopalan, CEO, Retailers Association of India (RAI) said.
