Home / Industry / Retail /  Retail sales up 13% in June; sports goods, jewellery log strong growth: Report

New Delhi: Retailers reported a 13% growth in sales in June this year compared to the same month in 2019, according to a survey by the Retailers Association of India (RAI).

Categories such as sports goods, jewellery and consumer electronics reported stronger growth in June compared to 2019 levels, as per the 29th edition of the Retail Business Survey. Retailers of sports goods reported a 29% growth in business, while jewellers reported a strong 27% sales growth in the same period.

“Sales across categories show a steady increase with sports goods and jewellery performing slightly better than other categories and quick service restaurants (QSR), footwear and apparel indicating stable growth in June 2022," RAI said in its findings.

The numbers, however, slowed down towards the second half of June. In May retail sales were up 24% compared to pre-covid levels. 

“While June 2022 has witnessed growth as compared to the same period before the pandemic, the rate of growth has definitely slowed down. Many retailers have indicated that the second half of June was not very encouraging as there weren’t too many celebratory occasions such as weddings to drive sales," said Kumar Rajagopalan, CEO, Retailers Association of India.

Rajagopalan also pointed to “headwinds of inflation" that he said impacted consumer spending. “It is still a worry and may impact the upcoming festive fervour. We will have to wait and watch how the next two months will pan out," he said.

Retailers in east India reported stronger growth in June followed by those in north of the country. In June 2022, sales in east India were 17% compared to pre-pandemic levels of June 2019; retailers in north India reported a sales growth of 16%, while retailers in west India grew 11% in the period. Retailers in south India reported a growth of 9%. Compared to a year ago period though retail sales were up 53% in June.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout