Retailers in the country reported a growth of 5 per cent in June compared to the same period last year, as per the latest survey findings released by Retailers Association of India (RAI). This was a tad higher sequentially compared to April. The growth was led by quick-service restaurants and food & grocery categories.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers saw a 5 per cent growth in June 2024 compared to the same period last year, indicating positive consumer spending trends. With the upcoming festival season and a promising monsoon, we anticipate further improvement in consumer sentiment and retail sales.”
Retailers in the southern region reported the highest growth with 7 per cent in June 2024 compared to June 2023. Northern and Eastern regions reported a growth of 5 per cent each. Retail businesses in Western region reported a growth of 4 per cent for the period.
Among the categories, the QSR sector reported a growth of 8 per cent last month compared to June 2023. Food and Grocery, Sports goods and furniture and furnishings each reported a growth of 7 per cent. Footwear segment sales were up 5 per cent in June 2024 compared to the same month last year. Apparel and clothing and jewellery segments each reported low single digit growth at 4 per cent. After seeing a high in summer months, consumer durables and electronics products settled down at mere 2 per cent growth in June 2024 compared to June 2023.