5% growth in retail sales in June 2024 vis-à-vis June 2023: RAI report

According to a recent survey by the Retailers Association of India (RAI), retail sales in June 2024 showed a growth of mere 5% as compared to the sales in June 2023.

Retail businesses across regions have indicated growth in sales compared to June 2023, with South India showing the highest increase at 7%, followed by North and East India at 5% each, and West India at 4%.

"South India led with a 7% increase, while the QSR sector grew by 8%. End-of-season sales in discretionary items also contributed. With the upcoming festival season and a promising monsoon, we anticipate further improvement in consumer sentiment and retail sales,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).

Among the categories, QSR sector reported a growth of 8%, followed by food & grocery, sports goods and furniture, which showed a growth of 7% each compared to June 2023 sales levels.