Retailers saw high single-digit growth in the month of September compared to the same period last year ahead of the festival season. According to the latest business survey released by Retailers Association of India (RAI), retailers in the country reported 9 per cent growth in sales last month compared to September 2022. In August too, the retail businesses had reported similar levels of growth.

According to the survey the southern region led this growth by reporting 13 per cent year-on-year growth, which was attributed to new store openings . While the western region witnessed 8 per cent growth, the eastern region reported 7 per cent growth. Retailers in North India witnessed sales growth of 6 per cent in September 2023 compared with September 2022.

Kumar Rajagopalan, CEO, RAI, said, “Retailers witnessed a growth of 9 per cent in the month of September 2023. Festival season definitely rings in positivity. As we approach Diwali, there’s an anticipation of an uptick in purchases, especially of celebrational items. Retailers are betting big on the season to drive growth.”

Categories

In terms of categories, Quick Service Restaurant (QSR) segment led the growth with 15 per cent. Food & Grocery segment was not far behind with 14 per cent growth. Jewellery category sales were up 13 per cent.

The ongoing cricket season has brought much cheer to the sports goods segment, with sales growth of nearly 14 per cent.

Consumer durables, electronics, beauty and wellness categories each reported growth of 9 per cent. Apparel and clothing segment reported growth of 8 per cent in terms of sales. . But footwear segment witnessed a mere 4 per cent growth. Sales in furniture and furnishing segment were up 6 per cent in September 2023 compared with September 2022.