NEW DELHI: The retail sector posted a 5 per cent muted growth year-on-year in September, with sales expected to pick up momentum as major festivals like Diwali approach. North India saw a sales growth of 7 per cent , followed by West and South India, which showed an increase of 5 per cent each, while East India showed a growth of only 4 per cent , according to the Retailers Association of India (RAI).
Food and grocery registered highest growth of 12 per cent , followed by 8 per cent in jewellery compared to Sept 2023. “Overall, the Indian economy seems to be nice and bullish and the conditions for the retail sector remain favourable as we move into the holiday season,” Kumar Rajagopalan, CEO, RAI said. Sept numbers show consumers are willing to spend where they see value, the association said in a release.
“As we approach the festive season, this behaviour presents an opportunity for retailers to align their strategies with consumer expectations. The retail landscape remains favourable for growth and energising consumer demand will be a key to driving long-term success in the industry. There are hopes that the retail sector will show renewed vigour following a lacklustre growth period from April to Sept,” the statement added.
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