Retail SMEs sees over 20 p.c. growth in '11

MUMBAI, INDIA: A survey of SMEs in the retail sector shows that more than 72 of the respondents expect sales to grow by more than 20 per cent in 2011.

The survey, conducted by IndiaMART Knowledge Services (IKS), also reveals that 24 per cent expect growth of up to 20 per cent and four per cent predict a sales decline compared to last year.

For 16 per cent of the respondents, consumer sentiment surpassed expectations in 2010 while a majority witnessed an average improvement in consumer sentiment. Twelve per cent experienced a negative change.

As much as 16 per cent of the respondents reported that export demand had increased by more than 20 per cent in 2010, 56 per cent said that demand increased by up to 20 per cent, and 28 per cent said that export demand had declined since 2009.

According to the survey, 44 per cent of the respondents felt that product prices fared better in 2010 as compared to 2009. Of these, eight per cent experienced significant improvement in product prices and 36 per cent found that prices improved only marginally.

While 32 per cent of the respondents found no change in product prices, 24 per cent reported that they declined in 2010.