According to the survey, West India experienced the highest sales growth at 8%, while North, South, and East India each recorded a 7% increase
Bengaluru: Retail sales in India experienced a 7% growth from 7 October 2024 to 1 December 2024 compared to the same festive period last year (2 October 2023 to 26 November 2023), Retailers Association of India (RAI) said in its latest edition of its Retail Business Survey.
The survey reveals that West India experienced the highest sales growth at 8%, while North, South, and East India each recorded a 7% increase.
In terms of categories, food and grocery registered the highest growth of 14%, followed by 10% in QSR, 9% in jewellery and 7% in both consumer durables and electronics and apparel, compared to the same festive time period last year.
Footwear saw a growth of 6%, beauty and wellness recorded a 5% increase, sports goods grew by 3%, while the furniture category registered the lowest growth at 2%.
“RAI’s survey indicates a moderate growth of 7% during the October-November festive season, falling short of the anticipated 10%,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI). “Consumption growth has been subdued throughout the year, prompting retailers to boost business through promotional offers and encouraging festive purchases.
“We are hopeful for stronger growth in 2025, as rising operational costs require a sustained growth trajectory to maintain profitability. Inflation, intensified competition, and limited spending, particularly by the lower middle-class population, remain significant challenges,” he further explained.
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.
