September saw an uptick in festive buying as consumers shopped for new clothes and bought gifting items.
RAI’s survey findings reveal that sales across categories reported a steady increase in business with food and grocery indicating a strong performance followed by quick service restaurants, sport goods and consumer durables and electronics performing better than other categories in September 2022 compared to September 2019.
Food and grocery retailers reported a 56% jump in sales in September compared to the same period in 2019, while apparel and clothing retailer saw sales grow by 25%. Consumer electronics and white goods retailers reported a 30% jump in sales in the same period.
Consumers are celebrating a more restriction-free Diwali after a gap of two years. As a result, footfall in markets revived and consumer sentiment saw an uptick.
“This festive season is expected to be a return to cheer season. There is a sense of thankfulness and well-being and also a sense of fulfillment of aspirations and luxurious cravings. Since consumers get a chance to do unrestricted shopping as well as there are no restrictions on meeting relatives and friends after pandemic, almost all categories are showing good growth," said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
Business is also expected as customers are travelling during festive season holidays. Another good trend visible is that people are not only shopping for themselves but also for gifting to the near and dear ones, he added.
Meanwhile, RAI said that demand trends remained similar across India with retail sales in East India growing by 21%, while those in South India up 23%. Retailers in North India reported a 21% jump in sales in September; while those in West India said sales were up17%.
