17 July 2024, Mumbai
The 52nd Retail Business Survey by the Retailers Association of India (RAI) reveals a 5 per cent increase in June 2024 sales compared to June 2023.
CEO Kumar Rajagopalan highlighted positive consumer spending trends, with South India leading at a 7 per cent growth, and the quick-service restaurant (QSR) sector experiencing an 8 per cent rise. End-of-season sales in discretionary items also contributed to the boost.
Regionally, North and East India both reported 5 per cent growth, while West India saw a 4 per cent increase. Among various categories, the food & grocery, sports goods, and furniture sectors each grew by 7 per cent.
Rajagopalan is optimistic about the future, anticipating further improvement in consumer sentiment and retail sales due to the upcoming festival season and favorable monsoon predictions.
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