RAI Retail Business Survey shows moderate growth of 7% in June 2023 over last year
By Retail4Growth Bureau | July 20, 2023
Retail businesses across regions have indicated growth in sales as compared to June 2022 sales level with South India signaling growth of 8%, while East India and West India indicate a growth of 7% and 6% respectively followed by North India at 5%, says the report.
The 41st edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in June 2023 showed a moderate growth of 7% as compared to the sales levels during the same period in June 2022, shares a RAI statement.
Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers witnessed a modest growth of 7% in the month of June 2023. Food & grocery and footwear showed a growth at 15% while has jewellery has shown a 14% growth. As consumers are now getting into their normal business routines, we are witnessing moderate growth over previous year. We need to wait till the festival season to draw definitive conclusions.”
Retail businesses across regions have indicated growth in sales as compared to June 2022 sales level with South India signaling growth of 8%, while East India and West India indicate a growth of 7% and 6% respectively followed by North India at 5%.
In categories, Food & Grocery and Footwear reported a growth of 15% each followed by jewellery (14%) and Sports Goods (13%) as compared to sales levels in June 2022.
