Retail businesses grew 18% in July as compared to pre-Covid level: Survey

The retail businesses grew 18 per cent last month over the pre-pandemic level of July 2019, according to Retailers Association of India’s Retail Business Survey. 

In July 2022, growth in sales compared to the pre-pandemic period (July 2019) was noticeable across regions, with sales in eastern India growing to 25 per cent.

There was 21 per cent sales growth in southern India, while the figures were 16 per cent and 10 per cent for the north and the west, respectively.

Sales across categories also showed a steady increase over the pre-pandemic period. Sports goods performed the best, followed by footwear, apparel, and jewellery.

Retail sales had moved below pre-pandemic levels in January due to restrictions imposed by states in view of the Omicron wave. Since February, sales have been steadily inching higher compared to the pre-Covid period. 

Kumar Rajagopalan, CEO, Retailers Association of India, said: “Retail businesses across the country are looking good as healthy growth in sales over pre-pandemic levels continues. Key categories like garments and footwear are showing traction. Considering this trend, retailers expect a good festive season, which may bring cheer to businesses.” 

“The Indian retail industry has been on a steady growth trajectory post-pandemic and has grown at 22 per cent (YoY) in the first three months of the year as compared to the pre-pandemic levels."

Loaded shopping cart

Sales in CY22 vis-à-vis pre-Covid months  

January: 91% of sales in Jan 2020 

February: 106% of sales in Feb 2020 

March: 112% of sales in March 2019 

April: 123% of sales in April 2019 

May: 124% of sales in May 2019

June: 113% of sales in June 2019  

July: 118% of sales in July 2019 

Source: Retailers Association of India