Indian Economy News

Retail sales grew by 9% in September 2023: Retailers Association of India

  • IBEF
  • October 27, 2023

According to a survey conducted by the Retailers Association of India (RAI), retail sales increased by 9% in September 2023 compared to the same time in September 2022.

Retail businesses in all regions have reported increased sales when compared to their September 2022 sales level. Sales increased by 9% across in India, with the Southern area of the country witnessing a year-over-year rise of 13%. While East and North India signalled growth rates of 7% and 6%, respectively, West India indicated a growth rate of 8%.

According to Mr. Kumar Rajagopalan, the Chief Executive Officer of the Retailer Association of India (RAI),” Festive season definitely rings in positivity. As we approach Diwali, there’s an anticipation of an uptick in purchases, especially of celebratory items. Retailers are betting big on the season to drive growth.”
The double-digit growth of South India could be attributed to new stores and expansion during September 2023.

Quick-Service Restaurants (QSR) reported a 15% growth in categories. In contrast to September 2022 sales levels, food & grocery and sports goods indicated a rise of 14% and 13%, respectively, while jewellery showed the lowest growth. The cricket season boosts sales of sporting goods as well.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.