Indian Apparel Retail Expects Full Recovery by Next Year


DLF Place Shopping mall in New Delhi. Shutterstock

India’s organised apparel market will see a full recovery to pre-Covid levels on fiscal year 2022 balance sheets, according to note released by India Ratings and Research (Ind-RA).

In the third quarter of fiscal year 2021, sales returned to 80 percent of pre-Covid levels, the agency said, though apparel retailers were expected to end the current fiscal year with an overall dip of 40 to 45 percent in business compared with the year previous. India’s fiscal year ends March 31.

“Ind-Ra expects the recovery to continue in FY22, on back of improving consumer confidence, resumption of store expansion by organised players and prospects of the vaccine rollout,” wrote Prasad Patil, analyst at Ind-Ra, in a research note.

India’s economy was particularly hard hit by the pandemic as the country simultaneously weathered some of the harshest lockdown conditions in the world, alongside a high rate of infections.

The agency said it had factored concerns around pressure on discretionary spending and the threat of a new wave of infections that could hamper recovery into its predictions.



Credit: Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Discover

Sponsor

Latest

Hilary Duff Says This Eyeshadow Helps Her Look Less Tired

Every one of us has experienced the classic “late night, early morning” dilemma, and throughout the years we’ve thankfully found our favorite products...

See Betty & Veronica’s Dresses & More – Hollywood Life

It’s that time for the teens at ‘Riverdale’ High. Betty, Jughead, Archie, Veronica, and the rest of the characters will be attending their...

20 Content Planning Tools to Streamline Your Content Marketing

Creating a content marketing strategy that is scalable, repeatable, and effective is about more than just making a list of blog topics and...

How to Instantly Spice Up Your Instagram Captions With Emojis

Love them 😍 or just 😐 them, emojis have become a central component in our online conversations. In fact, 95% of internet users...

Jackie Claims Gia Giudice Does Coke At Parties — Recap – Hollywood Life

Jackie Goldschneider hit Teresa Giudice where it hurts during the Feb. 17 season premiere of ‘RHONJ’, when the former confronted the latter over...
INTERNATIONAL »