Consumer electronic retailers have only grown in September, October: Retailers Association of India

Kolkata: Consumer electronics and appliance retailers are the only ones who have grown sales in September and October over the same period last year, while retailers of other categories continue to report lower sales even though there is a month-on-month sequential recovery, says a latest survey by Retailers Association of India (RAI).
The country’s apex retail trade body said sales of consumer electronics retailers went up by 2% in September and 8% in October as compared to same periods of last year.

Consumer electronic companies like LG, Samsung, Sony, Lenovo and Apple have reported their best sales ever in October in India and a recovery of consumer demand in July-September with Indian households continuing to buy appliances like refrigerators, washing machines and dishwashers which helps them to automate daily chores and televisions for home entertainment.

Sales of laptop, tablets and smartphones have been brisk too due to work and study from home.

RAI reported that at an overall level, retailers said sales have declined by 31% year-on-year in October from a decline of 50% in July-September period and 78% decline April-June quarter.

Kumar Rajagopalan, CEO at RAI, said the industry is beginning to see green shoots of recovery with a steady month-on-month improvement for businesses.

“However, we are yet to catch up to last year’s levels. Further improvement in business will depend upon how the pandemic situation further plays out and how fast the businesses can go towards recovery,” he said.

As per the RAI survey, the worst affected retailers are those operating in segments like beauty, wellness and personal care, jewellery, quick service restaurants, footwear, apparel, and sports goods. The worst affected regions are West, followed by North, East and South.