CMS Info Systems Ltd.’s shares were up by 0.58 per cent after the company reported a 9.3 per cent year-over-year growth in retail consumption during the first half of FY24, based on an extensive analysis encompassing 11 consumer-facing sectors. The sectors include large format retail, jewellery, FMCG, e-commerce, hospitality, and aviation.
The Retail Consumption Trends by CMS provide insights into consumer spending patterns, comparing FY24 to FY23. According to the company, B2C segment exhibited an annual increase of 9.3 per cent in the identified 11 sectors betwen April and September 2023. Growth was observed in the FMCG and e-commerce sectors, with annual increases of 26.2 per cent and 19.4 per cent, respectively, during Q2 FY24.
The aviation and hospitality sectors also saw growth of 29.7 per cent and 12.8 per cent, respectively, reflecting an increased demand driven by events like the Cricket World Cup.
The jewellery sector demonstrated an annual growth of 7.1 per cent, indicating higher spending during the wedding season and a rebound in post-pandemic demand.
The large format retail sector experienced an annual increase of 7.8 per cent in Q2 FY24, influenced by factors such as rising incomes, urbanisation, and evolving consumer preferences. The analysis revealed that SURU (semi-urban and rural) areas outpaced metro cities in H1 FY24, registering the fastest consumption growth at 9.2 per cent year-over-year.
The shares were up by 0.58 per cent to ₹382.45 at 2.23 pm on the BSE.