The 50th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in April 2024 showed a growth of 4% as compared to the sales levels in April 2023.
Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India, said, “Retailers have witnessed growth of 4% in April 24 compared with April 23. 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.”
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 signaling a growth of 2%.
In categories, QSR and food & grocery reported a growth of 7% each, followed by jewellery showing a growth of 6% as compared to sales levels in April 2023.
