Retail sales grow 28% in March with removal of pandemic-related restrictions

ICRA expects stable outlook for office, retail real estate segments

In terms of categories, consumer durables and electronics clocked the highest growth at 45 percent, followed by furniture and furnishing, and food and grocery at 26 percent each.

Sports goods, apparel and clothing categories also posted growth of 26 percent each, the survey said. While the footwear segment grew by 24 percent, QSR category saw a growth of 21 percent last month, it added.

"The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories including categories that were hitherto showing weak sales like garments and footwear," RAI's CEO Kumar Rajagopalan said.

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However, "When looking at the performance, one needs to factor in the inbuilt inflation in most products like garments, electronics and some FMCG products," he added.

With the restrictions gone, offices have resumed normal working and consumers are stepping out to catch up on their social lives, RAI said. "Retailers are hopeful that quantitative growth will be restored and business will be back on a steady growth trajectory in FY 2022," it added.