According to an RAI survey, QSR and Food and Grocery recorded a growth of 15% and 14% respectively, while jewellery grew 12% in July 2023 as compared to the same period last year
Mumbai: Retail sales in July 2023 showed a growth of 9% as compared to the sales levels during the same period in July 2022, indicated the 42nd edition of the Retail Business Survey by the Retailers Association of India (RAI).
Retail businesses across regions have indicated growth in sales as compared to July 2022 sales level with South India signaling growth of 12%, while West India indicated a growth of 9% followed by North India and East India signalling a growth of 7% each.
In categories, QSR and Food and Grocery reported a growth of 15% and 14% respectively, followed by jewellery (12%) and Sports Goods (11%) as compared to sales levels in July 2022.
Speaking about the findings, Kumar Rajagopalan, chief executive officer, Retailers Association of India (RAI), said, “As consumers are now getting into their normal business routines, we are seeing a trend of O2O, or online-to-offline, where customers discover the products online but make purchases in-store. Moreover, brands are making concerted efforts to create a favourable shopping environment for customers. Retailers have seen a pick-up in business in the last week of July as many of them have started their End of Season Sales.”
Retailers Association of India (RAI) is the unified voice of Indian retailers. Launched in 2004 and headquartered in Mumbai, it is the apex body which represents offline and online retailers in India.
