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Retail sales grow 4% y-o-y in April 2024: RAI Survey

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Sales in North, South, and West India grew by 5% each, followed by East India with a growth of 2%

Bengaluru: Retail sales in April 2024 showed a gain of 4% as compared to the sales levels during the same period in April 2023, uncovered Retailers Association of India (RAI) in the latest edition of its Retail Business Survey.

In categories, quick service restaurants (QSR) and food and grocery reported a growth of 7% each, followed by jewellery showing a growth of 6% as compared to sales levels in April 2023.

Consumer durables and electronics, along with the furniture category, saw a 5% growth, followed by beauty, wellness, and personal care, which showed a 4% growth. Apparel, footwear, and sports goods showed the least growth at 2% each.

“While the economic indicators for the culinary are bright, the retail sector is yet to witness double-digit growth as per normal trends,” said Kumar Rajagopalan, chief executive officer of RAI.

“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,” added the CEO.

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 signalling a growth of 2%.

RAI is the apex body of retailers in India and works with all the stakeholders to create the right environment for the growth of the modern retail industry in India.

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