Retailers expect 64% decline in business in July 1st half
   Date :23-Jul-2020

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Business Bureau :
 
RETAILERS estimate 64 per cent de-growth in their business in the first half of July 2020 as compared to the same period last year as Indian retail industry continues to face hurdles at state and local levels making recovery all the more distant, RAI said on Wednesday. According to the fourth edition of business survey conducted by Retailers Association of India (RAI), a few categories such as food and grocery and consumer durables have started showing some signs of improvement with overall de-growth now at 45 per cent and 30 per cent, respectively, compared to the same period last year.
 
Within the consumer durables category, large-sized retailers (over Rs 300 crore sales) indicated de-growth of 21 per cent, whereas within food and grocery, small and medium-sized retailers (less than Rs 300 crore sales) reported de-growth of 35 per cent, it added. In terms of categories, apparel and clothing declined 74 per cent, footwear was down 74 per cent, jewellery, watches and personal accessories were down 78 per cent, while furniture and furnishing witnessed a drop of 63 per cent.
 
Similarly, RAI survey said sports goods sales dropped 68 per cent, beauty, wellness and personal care decreased by 71 per cent, and quick service restaurants declined by 73 per cent, it added.Regionwise, RAI said all regions are equally beaten for sales growth with east at 62 per cent decline, while west dropped 69 per cent, north declined 68 per cent and south also saw a dip of 58 per cent in the first half of July 2020 as compared to the same period last year, RAI added.
 
“It has been a grim start to the second quarter of FY21 with retailers facing huge operational setbacks due to ad-hoc local lockdowns creating confusion and leading to supply chain and staffing issues,” RAI CEO Kumar Rajagopalan said.