India’s top apparel retailers clocked 60-90% of last year’s festive season sales this year, with shoppers buying ethnic wear, children’s clothing, and winter and occasion wear from stores. “Festive season was good—we had looked at 75-80%, but we are more towards 85-90% of last year’s levels. Though festive sales beat internal estimates, it was lower than a year earlier. “Consumption patterns have changed significantly due to covid-19 but during the festive season things have improved slowly. However, for the full year, retailers expect to report a significant decline in overall sales compared to the previous year.

Source: Mint November 20, 2020 02:03 UTC