Retail sales grew by 9% in August, says the Retailers Association of India
- IBEF
- September 25, 2023
According to a survey conducted by the Retailers Association of India (RAI), retail sales increased by 9% in August 2023 compared to the same period in 2022.
In July, overall retail sales increased by 9% from the previous year, while apparel sales increased by 8%.
Food and grocery saw a 13% growth, while quick service restaurants (QSR) and Jewellery each saw growth of 14%. As the holiday season approaches, retailers anticipate double-digit growth in the upcoming months.
Retail businesses across all regions have reported an increase in sales compared to August 2022 sales levels, with South India reporting the biggest growth at 15%. West India reported an increase of 8%, followed by East India and North India at 7% and 6%, respectively.
Compared to sales levels in August 2022, QSR and jewellery both experienced category growth of 14% each, followed by food and groceries (13%), and beauty (10%).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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