Ahead of the critical festival season months, retailers in the country clocked a modest growth in sales in June. As per the latest survey findings released by Retailers Association of India, retailers clocked a growth of 7 per cent in June 2023 over June 2022. This growth was led by south India.

Sales growth levels in the retail sector have been hovering at 6-7 per cent since March as per the previous editions of the Retail Business Survey of the industry body.

ALSO READ | Retail sector clocks 34% growth in FY23: RAI

Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers witnessed a modest growth of 7 per cent in the month of June 2023. Food and grocery and footwear sector saw a growth at 15 per cent while jewellery segment has shown a 14 per cent growth. As consumers are now getting into their normal business routines, we are witnessing moderate growth over previous year. We need to wait till the festival season to draw definitive conclusions.”

Retailers in south India clocked sales growth of 8 per cent, while those in the east clocked sales growth of 7 per cent. Retail businesses in west and north India recorded sales of 6 per cent and 5 per cent respectively in June 2023 compared to the same period last year.

ALSO READ | Market size of India’s online retail sector likely to touch $325-bn by 2030: Deloitte India report

In terms of categories, food and grocery, footwear and jewellery categories led the growth. Sports goods garnered 13 per cent growth. Beauty and wellness and QSR segments clocked growth of 7 per cent each. Apparel and clothing clocked 7 per cent while the furniture and furnishing segment clocked a mere 3 per cent growth in June 2023 compared to June 2022.

Related Topics
comment COMMENT NOW