Modern retail sales see 72% recovery

Sales by modern retail touched 72 per cent of the pre-pandemic levels in July as quick service restaurants (QSRs) revived by 97 per cent. The industry hopes to get back to normal sales during the festive season.

As per data collated by the Retailers Association of India (RAI), retail sales in July 2021 were at 72 per cent of July 2019. The sales have jumped from the June levels, when it stood at 50 per cent of June 2019.

Among the categories, QSR recovered the best in July 2021 with sales at 97 per cent of the pre-pandemic levels. Food grocery sales made 88 per cent recovery in July. However, in June food and grocery had recovered better at 93 per cent of June 2019.

Consumer durables and electronics made 72 per cent recovery against 54 per cent in June and footwear touched 72 per cent of pre-pandemic sales against 39 per cent in June.

Retail businesses in the southern region indicated a sharp comeback in July with sales at 82 per cent as against 50 per cent in June. The western region indicated slower recovery of sales at 57 per cent over curbs in Maharashtra.

A slice of the modern retail sales has been moving in favour of e-commerce during the pandemic. A report by Bain & Company noted that while the overall retail market shrunk by 5 per cent, the eretail market in the country saw a 25 per cent growth to reach $38 billion by the end of FY21. E-com grabbed 4.6 per cent of the retail market in FY21.