With 13% year-on-year increase in sales, South India registered the highest growth among regions
Mumbai: Retail sales in September 2023 showed a gain of 9% as compared to the sales levels during the same period in September 2022, found the Retail Business Survey by the Retailers Association of India (RAI).
Retail businesses across regions have indicated growth in sales as compared to the September 2022 sales level. With a 13% year-on-year increase in sales, South India registered the highest growth among regions. West India indicated a growth of 8% followed by East India and North India signalling a growth of 7% and 6% respectively. The double-digit growth of South India could be attributed to new store and expansion during September 2023.
In categories, QSR reported a growth of 15%. Food & grocery and sports goods signalled a growth of 14% each followed by jewellery (13%) compared to sales levels in September 2022.
Speaking about the findings, Kumar Rajagopalan, chief executive officer, Retailers Association of India (RAI), said, “Festive season definitely rings in positivity. As we approach Diwali, there’s an anticipation of an uptick in purchases, especially of celebratory items. Retailers are betting big on the season to drive growth.”
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.
