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

In June 2024, India witnessed a significant growth in sales of 5% over June 2023, as per the 52nd Retail Industry Survey conducted by Retailers Association of India (RAI). Among the various categories, footwear and apparel sectors witnessed a growth of 4%.

The regional growth leader is South India with a 7% increase, followed by North and East India with a 5% increase, and then West India with a 4% increase.

In June, India saw a 5% increase in retail sales compared to June 2023, according to the RAI. The footwear and apparel sectors grew by 4% each. South India led with a 7% increase, while north and east India saw a 5% increase and west India saw a 4% increase. The RAI expects further improvement with the upcoming festival season.

Kumar Rajagopalan, Director General, RAIcommented on the positive trend, “Retailers reported a 5 per cent growth in June 2024 compared to the same period last year, indicating positive trends in consumer spending. South India led the way with a 7 per cent growth, while the QSR sector grew by 8 per cent. This was also driven by end-of-season discretionary sales. With the upcoming festival season and promising monsoon, we expect consumer sentiment and retail sales to continue to improve.”

The survey points to solid performance across sectors, particularly in discretionary items, boosted by end-of-season sales. RAI predicts that the upcoming festival season and promising monsoon will further boost consumer sentiment and retail sales.

Fibre2Fashion Press Office (KD)

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