The business of Indian retailers declined by 67 per cent during June 15-30 compared to the corresponding period last year, according to a survey by Retailers Association of India (RAI).
In its latest business survey conducted on more than 100 big and small retailers, RAI said there has been no significant growth in business for retailers even during the second half of June.
During this time, malls witnessed 77 per cent degrowth (year-on-year) on account of not being allowed to open uniformly across the country, high street retail showed degrowth of 62 per cent in business despite being allowed to open across India.
Large size retailers (sales of over Rs 300 crore) witnessed a degrowth of 59 per cent and small retailers ( less than Rs 300 crore sales) witnessed a decline of 69 per cent.
Region wise, West with a 74 per cent drop and North with 71 per cent decline continued to suffer the most, while East and South witnessed 62 per cent fall in sales each.