Apparel retailers like Shoppers Stop, Reliance Trends record double digit growth - Feedback

India’s top apparel retail chains Shoppers Stop, Reliance Trends, Lifestyle, Future Group, Arvind Brands, Max and Fabindia said sales this festive season grew in double digits, quashing the impact of online discounts and overcoming a poor performance last time due to the introduction of GST.

The retailers said same-store sales — a key performance indicator — grew by 8-15% during this festive season. Future Group and Fabindia said their sales were among the best in three years.In the offline category, the buoyant performance of fashion chains was also in stark contrast to sales of smartphones and televisions, which were hit badly this year by online discounting. Some offline retailers are offering discounts on certain bill sizes or gifts, which are pushing up sales, executives said.“Consumers are buying in stores since they can touch and feel products and have realised that online stores either sell very old stock or fakes and marketplaces do not like to take ownership of those,” said Future Retail joint MD Rakesh Biyani. He said samestore sales growth for apparel during this festive period has been in high double digits.

https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/apparel-retailers-like-shoppers-stop-reliance-trends-record-double-digit-growth-this-festive-season/articleshow/66518945.cms

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