India sees 5% retail sales growth in June 2024: RAI

18 Jul '24

1 min read

India sees 5% retail sales growth in June 2024: RAI

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In June, India observed a 5 per cent growth in retail sales compared to June 2023, as per RAI.
Footwear and apparel sectors grew by 4 per cent each.
South India led with a 7 per cent rise, while north and east India saw 5 per cent growth, and west India experienced a 4 per cent increase.
RAI expects continued improvement with the upcoming festival season.

In June 2024, India noted a significant 5 per cent growth in sales compared to June 2023, as per the 52nd Retail Business Survey by the Retailers Association of India (RAI). Among various categories, the footwear and apparel & clothing sectors each registered a 4 per cent growth.

South India led the regional growth with a notable 7 per cent increase, followed by North and East India, each seeing a 5 per cent rise, and West India experiencing a 4 per cent increase.

Kumar Rajagopalan, CEO of RAI, commented on the positive trend: “Retailers saw a 5 per cent growth in June 2024 compared to the same period last year, indicating positive consumer spending trends. South India led with a 7 per cent increase, while the QSR sector grew by 8 per cent. End-of-season sales in discretionary items also contributed. With the upcoming festival season and a promising monsoon, we anticipate further improvement in consumer sentiment and retail sales."

The survey indicates a robust performance across various sectors, particularly in discretionary items, boosted by end-of-season sales. The RAI anticipates that the upcoming festival season and a promising monsoon will further elevate consumer sentiment and retail sales.

Fibre2Fashion News Desk (KD)

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