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Retailers witness 7% sales growth in 2023 as compared to last year: RAI

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In categories, Food and Grocery and Footwear reported a growth of 15% each followed by jewellery (14%) and Sports Goods (13%) as compared to sales levels in June 2022

Mumbai: Sales in June 2023 showed a moderate growth of 7% as compared to the sales levels during the same period in June 2022, indicated 41st edition of the Retail Business Survey by the Retailers Association of India (RAI) in a recent press release.

Speaking about the findings, Kumar Rajagopalan, chief executive officer, Retailers Association of India (RAI), said, “Retailers witnessed a modest growth of 7% in the month of June 2023. Food and grocery and footwear showed a growth at 15% while has jewellery has shown a 14% growth. As consumers are now getting into their normal business routines, we are witnessing moderate growth over previous year. We need to wait till the festival season to draw definitive conclusions.”

Retail businesses across regions have indicated growth in sales as compared to June 2022 sales level with South India signaling growth of 8%, while East India and West India indicate a growth of 7% and 6% respectively followed by North India at 5%.

In categories, Food and Grocery and Footwear reported a growth of 15% each followed by jewellery (14%) and Sports Goods (13%) as compared to sales levels in June 2022.

RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. It works with all levels of government and stakeholders to support employment growth and career opportunities in retail, promote and sustain retail investments in communities from coast to coast, and enhance consumer choice and industry competitiveness.

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