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Retail sales up 23% in April versus pre-covid

By Livemint
While consumers are returning to stores, they are also facing the pressure from higher prices of foods.. Photo: Mint (Mint)

“Compared to the pre-pandemic sales level in April 2019, retail businesses across regions have indicated growth in April 2022. Sales in north India have indicated growth of 32%, while west India has shown growth of 24%, and east India and south India reported growth of 18% each," according to the 27th edition of the Retail Business Survey by the Retailers Association of India (RAI).

Sales across categories continue to indicate steady growth, though the beauty and wellness category is yet to come out of the red with retailers reporting a 1% dip in demand, it said.

Quick service restaurant (QSR) chains reported the sharpest recovery with a 45% jump in April sales compared to April 2019, followed by retailers of electronics, consumer appliances, sports goods, and apparel. Compared to the year-ago period all categories reported a double digital growth, led by QSRs and sports goods retailers.

However, about 10% of the growth reported during the month was on account of inflation, cautioned RAI chief executive officer Kumar Rajagopalan. Consumers are returning to stores but are also facing higher prices of foods and this could hurt consumer demand, he warned. “It is heartening to see that customers are back in stores ... Most categories have shown good performance, but it is important to note that about 10% of this growth can be accounted to inflation," Rajagopalan said.

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Dive Deeper:
Reviving rural consumption likely to be a long haul
Most FMCG companies admitted that discretionary products went out of the shopping carts
Retail inflation jumps to 8-year high of 7.79% in April
NEW DELHI: Retail inflation based on consumer price index (CPI) jumped to 8-year high of 7.79 per cent in April,…
Retail Stocks: Dillard's Stock Rallies On Blowout Earnings Ahead Of Big Week For Sector
Dillard's rallied Thursday within a base on blowout earnings. Several other retail stocks are reporting soon.
Stock Market Dips As Another Inflation Gauge Rises; Tech And Utilities Lead Declines; Disney Takes A Hit
The stock market dipped Thursday as wholesale inflation rose and Disney took an earnings hit. Retailers led gainers.
One subscription that gives you access to news from hundreds of sites
Petrol, diesel prices today: Fuel cost unchanged. Check prices in Delhi, Mumbai, other cities
Fuel prices have remained unchanged for the last 38 days on Saturday, May 14, 2022.The price of petrol in Delhi…
An inflation focus that neglects growth could lead to stagflation
Price stability and economic growth must not be posed as an either-or choice as the well-being of people demands a…
Get all your news in one place