June quarter retail sales are expected to grow 53% year-on-year on last year’s lower base, an 8 July Edelweiss Securities earnings preview said. However, revenues are likely to be 37% lower than a year ago as the second wave nipped the March quarter recovery, the report added. Apparel retail will again see the lowest recovery, with inventory levels and discounting being the key monitorables," the report said. However, the recovery hit a wall as the second wave shuttered non-essential retail in April and May. In April 2021, overall retail sales were 49% lower than in April 2019, industry body Retailers’ Association of India said in it retail sales report after surveying more than 60 retailers across categories.

Source: Mint July 09, 2021 17:57 UTC