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Retailers reported a sales growth of 5 per cent in September over the same period last year, as per the latest survey released by the Retailers Association of India. This was also higher than in August when retailers had reported a mere 2 per cent growth. The industry body said that with the start of the festival period, the industry hopes to garner better sales growth in the coming days after a lackluster growth period seen from April to September. It also said that survey findings revealed that consumers are willing to shell money in categories and products where they see value.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “September’s retail performance highlights that consumers are spending selectively. As we approach the festive season, this behaviour presents an opportunity for retailers to align their strategies with consumer expectations. The retail landscape remains favourable for growth, and energizing consumer demand will be a key to driving long-term success in the industry. Overall, Indian economy seems to be nice and bullish and the conditions for the retail sector remain favourable as we move into the holiday season”.
According to the survey, North India saw sales growth of 7 per cent, followed by West and South India, which showed increases of 5 per cent each. At the same time, East India showed a growth of only 4 per cent.
In terms of categories, food and grocery led this growth, garnering the highest growth of 12 per cent. Jewellery segment sales were up 8 per cent icompared to September 2023. Consumer durables and electronics segment sales were up 6 per cent. Quick- service restaurant segment sales were up 5 per cent. The apparel segment also recorded growth of 5 per cent in September over the same period last year. The footwear segment registered a growth of 4 per cent. Meanwhile, segments such as sports goods (1 per cent) and beauty and wellness (2 per cent) saw low single-digit sales growth.However, the furniture and furnishing segment indicated a degrowth of about 1 per cent in September this year compared to last year.
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