Retail sales grew by mere 5% in September 2024 over the corresponding period in the previous year, according to Retailers Association of India.
However, it is expected that the Indian retail sector will show renewed vigour following a lacklustre growth period from April to September.
“September’s retail performance highlights that consumers are spending selectively. As we approach the festive season, this behaviour presents an opportunity for retailers to align their strategies with consumer expectations,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
“The retail landscape remains favourable for growth, and energizing consumer demand will be a key to driving long-term success in the industry. Overall, Indian economy seems to be nice and bullish and the conditions for the retail sector remain favourable as we move into the holiday season,” said Rajagopalan.
According to the survey, North India saw the sales growth of 7%, followed by West and
South India which showed an increase of 5% each while East India showed a growth of only 4%. Of the different retail categories, food and grocery registered the highest growth of 12%, followed by 8% in jewellery compared to September 2023.
September numbers show consumers are willing to spend where they see value.
However, it is expected that the Indian retail sector will show renewed vigour following a lacklustre growth period from April to September.
“September’s retail performance highlights that consumers are spending selectively. As we approach the festive season, this behaviour presents an opportunity for retailers to align their strategies with consumer expectations,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
“The retail landscape remains favourable for growth, and energizing consumer demand will be a key to driving long-term success in the industry. Overall, Indian economy seems to be nice and bullish and the conditions for the retail sector remain favourable as we move into the holiday season,” said Rajagopalan.
According to the survey, North India saw the sales growth of 7%, followed by West and
South India which showed an increase of 5% each while East India showed a growth of only 4%. Of the different retail categories, food and grocery registered the highest growth of 12%, followed by 8% in jewellery compared to September 2023.
September numbers show consumers are willing to spend where they see value.
