The Retailers Association of India (RAI) has reported a 5 per cent growth in the retail sector for September 2024, compared to the same period last year, according to its 55th Retail Business Survey. The survey indicates that consumer spending is selective, with hopes for improved performance during the upcoming festive season following a sluggish April-September period.
RAI CEO Kumar Rajagopalan noted that the September figures highlight an opportunity for retailers to adapt to consumer trends as they prepare for the holiday season. He emphasized the importance of energizing consumer demand to drive long-term success, as the economic landscape remains positive.
Regional growth varied, with North India leading at 7 per cent, followed by West and South India at 5 per cent each, and East India at 4 per cent. Among retail categories, food and grocery saw the highest growth at 12 per cent, while jewellery grew by 8 per cent compared to September 2023.
Despite the cautious spending, consumers are willing to invest where they perceive value, offering a promising outlook for retailers as the festive season approaches.
