Retailers in the country, on average, recorded a growth of 4 per cent in April compared to the same month last year, as per the latest business survey of the Retailers Association of India. This marked a sequential dip compared to March growth levels when retailers had grown by 8 per cent in sales.
Retail businesses across regions have indicated growth in sales as compared to April 2023 sales, levels, with sales in North, South, and West India at 5% each, followed by East India signalling a growth of 2 per cent, the survey added.
Kumar Rajagopalan, CEO of Retailers Association of India (RAI), said, “While the economic indicators for the culinary are bright, the retail sector is yet to witness double-digit growth as per normal trends. Customers have been cautious while spending on non-essential items while they are splurging on capital purchases like vehicles, housing, travel, etc. We hope that growth will pick up speed post-election results in June.”
In terms of categories, QSR and food & grocery led the growth. Both these segments recorded a growth of 7 per cent each. Jewellery segment witnessed sales growth of six per cent compared to April 2023. The consumer electronics and furniture and furnishings segments garnered growth of 5 per cent each.