Retailers in the country clocked double-digit growth in FY2022-23. According to the Retailers Association of India’s survey, retailers clocked a growth of 34 per cent in April 2022-March 2023 period compared to the sales levels in the April 2021 – March 2022 period.
It said that retailers in East India witnessed a growth of 42 per cent, while West India reported a growth of 36 per cent. “North and South India signaled a growth of 32 per cent and 27 per cent respectively compared to April 2021 – March 2022 sales levels,” it added.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retail businesses across the country are looking good as the survey shows growth in sales over April 2021 – March 2022 levels. The Survey indicates a spike in sports goods and QSR sales. Business improved and we do hope that this will sustain.”
The growth was led by sports goods indicating a strong performance (41 per cent) followed by QSR (39 per cent). The consumer durables and electronics segment was up 37 per cent, furniture grew by 35 per cent and footwear was up 34 per cent in April 2022-March 2023 compared to April 2021 – March 2022 sales levels.