Last updated : October 27, 2023 9:38 am
The 44th edition of the Retail Business Survey by the Retailers Association of India (RAI) says that the double-digit growth of South India could be attributed to new stores and expansion during September 2023.
The 44th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in September 2023 showed a growth of 9% as compared to the sales levels during the same period in September 2022.
Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers witnessed a growth of 9% in the month of September 2023. Festive season definitely rings in positivity. As we approach Diwali, there’s an anticipation of an upstick in purchases, especially of celebrational items. Retailers are betting big on the season to drive growth”
Retail businesses across regions have indicated growth in sales as compared to September 2022 sales level. Pan-India saw a 9% increase in sales growth, with the Southern region of the country witnessing an overall 13% year-on-year growth. While West India indicated a growth of 8% followed by East India and North India signalling a growth of 7% & 6% respectively. The double-digit growth of South India could be attributed to new store and expansion during September 2023.
In categories, QSR reported a growth of 15%. While food & grocery and sports goods signaled a growth of 14% each followed by jewellery (13%) as compared to sales levels in September 2022. Cricket season is also helping sports goods sales.