Report predicts a 19% increase in retail sales between April and November 2022

The retail industry in India increased revenues by 19% over pre-pandemic levels between April and November 2022, because to strong performance in segments such as fast service restaurants and footwear, according to the Retailers Association of India (RAI) on Friday.

According to RAI, the eastern region experienced the biggest rise at 21% when compared to the same period in 2019.

North India followed with a 19% increase, while the western and southern portions each had an 18% increase, according to the report.

"The QSR (quick service restaurant) and footwear industry did particularly well during this period, with a 30% increase compared to 2019," RAI added.

However, the beauty, wellness, and personal care industry only grew by 7% compared to the same period in 2019.

"Consumers are returning to store shopping, which they enjoy even as they continue to buy online," RAI CEO Kumar Rajagopalan said.

According to RAI Chairman Bijou Kurien, the previous two years have seen major changes in the Indian retail business, with the adoption of technology by offline stores increasing dramatically.

In terms of the prediction for 2023, he stated, "Retail in India is predicted to develop faster than in any other major global market. For merchants, omnichannel retail has become the standard." He also stated that technologies such as ONDC (Open Network for Digital Commerce) will allow millions of small retailers to join in digital commerce.

"However, concern about the coronavirus remains in other nations, and inflation provides headwinds for retail. Having said that, if no Covid-19 limits are imposed, the occasion-wear business (festivals, weddings, etc.) would prosper in the country "He stated.