Sales at pre-COVID levels for major retail chains from January to June

11 Jul 2022 , 09:50 AM

Researchers and manufacturers of consumer products said that due to low infection rates, an increase in consumer mobility, and the removal of all COVID restrictions, sales at large retail chains, often known as modern trade, have returned to pre-pandemic levels in the January—June period. Additionally, compared to the previous two years, the rate of expansion of the e-commerce channels has decreased.

The contribution of organized retail increased from January to May compared to the same time last year by 1-4% across categories like smartphones, televisions, and major appliances, according to research firm GfK India, which focuses on electronics and smartphone industries.

Key categories have shown 34—49% growth in the entire offline channel, according to GfK data that measure actual sales, while organized shops are growing at a greater rate of 65—47% for smartphones, 47—55% for TVs, and 55—% for major appliances. Industry leaders reported that during the same time period last year, the offline channel growth rate was in the single digits.

Leading FMCG businesses and retailers reported that even for daily essentials and groceries, large chains’ sales growth and contributions have increased while those of e-commerce channels have slowed in recent months.