New Delhi: Retail sales grew 9% in July, compared to a year ago period, industry association Retailers Association of India (RAI) said in its 42nd Retail Business Survey released on Saturday.
Retailers have seen a pick-up in business in the last week of July as many of them started their end-of-season sales, Kumar Rajagopalan, CEO of the retailers body said in a statement .
Mint had earlier reported that several large retailers advanced their end-of-season sales citing lukewarm demand for clothing in the preceding months. However, the upcoming festive season seems to hold promise for retailers as consumers are showing early signs of spending.
“Quick service restaurants and food and grocery showed a growth at 15% and 14% respectively, while jewellery has shown a 12% growth. As consumers are now getting into their normal business routines, we are seeing a trend of 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,” said Rajagopalan.
Meanwhile, RAI data suggests that retail businesses across regions reported a growth in sales when compared to July 2022. Retailers in South India reported a growth of 12% year-on-year, while those in West India grew 9% followed by North India and East India signalling a growth of 7% each.
Categories such as QSR and food and grocery chains led the sales growth during the month followed by jewellery at 12% and sports goods at 11% retailers. Apparel sales were up 8% year-on-year.
