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RAI survey indicates 16% growth in December 2022 vis-a-vis pre-pandemic levels

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The growth was led by footwear, Jewellery and sports goods categories

Mumbai: Retail industry sales in December 2022 showed a growth of 16% as compared to the sales levels during the same period in December 2019 i.e. pre-pandemic, found the Retailers Association of India (RAI) in the 35th edition of its Retail Business Survey.

 Retail businesses across regions have indicated growth in sales as compared to pre-pandemic levels with East India signaling growth of 20%, and South India and West India indicating a growth of 18% and 16% respectively. North India registered a 10% growth as compared to sales levels in December 2019.

In categories, Footwear reported a growth of 29% followed by Jewellery (26%) and Sports Goods (25%) as compared to sales levels in December 2019.

The furniture category which was showing muted growth throughout the year has now shown a healthy growth in sales of 19% as compared to pre-pandemic levels – 2019. Money spent on travel, setting up of new houses and occasions are showing growth. However, growth for day-to-day consumption is muted.

Speaking about the findings, Kumar Rajagopalan, chief executive officer, RAI, said, “Customers are spending carefully on discretionary products. While it’s growth, it’s cautious growth.”

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