Increase in cases, restrictions result in 45% drop in sales for retail sector: CAIT
The Confederation of All Indian Traders (CAIT) said on Saturday that the increase in Covid cases and the imposition of various restrictions in the states have had a direct impact on economic activities. He estimated that retail sales have fallen on average by about 45 percent over the past seven days.
The traders’ body said that while all possible measures are to be taken to prevent the spread of Covid, but at the same time, it is also necessary to protect livelihoods and ensure the smooth running of economic activities.
CAIT Secretary General Praveen Khandelwal said that due to various restrictions induced by Covid-19, there has been an average 45% drop in business from the retail sectors over the past seven days at across the country. “The out-of-town shopper does not go out of town, whereas consumers also go to the market to buy goods only when it is really important. Because of this double whammy, the country’s affairs have turned sour and central and state governments need to pay attention to this economic impact, ”he added.
According to a survey carried out by the traders’ body between January 1 and January 6 in 36 cities, the country’s internal trade has declined on average by about 45% over the past week. the third pandemic wave, the money crisis, the large sums of money stuck in credit and the imposition of various covid restrictions without consulting traders, ”the traders body said.
The industry body estimates that the estimated decline in sales in various categories ranges from about 30 percent to 65 percent. For example: FMCG sales decline was estimated at 35 percent, electronics category at 45 percent, cellphones at 50 percent, shoes 60 percent, jewelry at 30 percent, clothing and accessories. cosmetics at 30 percent each.
The industry body had said earlier that business generated by weddings would also be hit hard in the next two months.