Retailers in the country clocked a nine per cent growth in sales in July compared to the same period last year, as per the latest estimates by Retailers Association of India. This was two per cent higher sequentially compared to sales growth levels seen in June.
The growth was led by categories such as quick-service restaurants and food & grocery segments. End-of-season sales also helped retailers see an uptick in footfalls during the latter half of July.
According to the latest edition of the Retail Business Survey by RAI, sales in July 2023 stood at nine per cent compared to July 2022 led by the Southern region. Retailers in South India clocked a growth of 12 per cent followed by West India, where sales growth was pegged at nine per cent. Retail businesses in North India and East India clocked a growth of seven per cent each.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “As consumers are now getting into their normal business routines, we are seeing a trend of O2O, or online-to-offline, where customers discover the products online but make purchases in-store. Moreover, brands are making concerted efforts to create a favourable shopping environment for customers. Retailers have seen a pick-up in business in the last week of July as many of them have started their End of Season Sales.”
In terms of categories, QSR and Food & grocery segments witnessed a growth at 15 per cent and 14 per cent respectively in July this year compared to same period last year. Jewellery segment witnessed an uptick with sales growth pegged at 12 per cent versus same period last year. Meanwhile, sports goods sales was up 11 per cent.
In categories, QSR and Food & Grocery reported a growth of 15 per cent and 14 per cent respectively, followed by jewellery (12 per cent) and Sports Goods (11 per cent) as compared to sales levels in July 2022. Beauty, wellness & personal care segment sales were up 10 per cent. Apparel and Clothing and footwear segments witnessed high double digit growth of eight per cent and seven per cent respectively. But furniture and furnishing sales witnessed a growth of mere five per cent in July 2023 versus July 2022.