Corona-affected retailers cautious optimism for 2021

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Mumbai, Ta. 28 December 2020, Monday

Corona-affected country's retailers are cautiously optimistic about the year 2021. A survey conducted by the Retailers Association of India (RAI) found that the country's retail trade is improving at a slower pace every month.

In November this year, retail sales were down 18 per cent year-on-year. November saw a surge in retail due to Diwali.

Sales of consumer durables and electronics grew by 12 per cent, while food and grocery sales grew by 5 per cent. But the apparel and clothing segments declined by 12 per cent year-on-year, the survey said.

Diwali and wedding shopping saw a recovery in some retail segments but the absence of foreign tourists is still a negative for the retail trade, a senior official said.

Retailers are cautiously optimistic about 2021. However, in the next six months, retail trade is expected to reach 5 per cent of the previous level. The level of recovery varies from region to region.

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