RAI survey shows online to offline trend, sales growth
By Retail4Growth Bureau | August 21, 2023
The 42nd edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in July 2023 showed a growth of 9% as compared to the sales levels during the same period in July 2022.
The 42nd edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in July 2023 showed a growth of 9% as compared to the sales levels during the same period in July 2022.
Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers witnessed a growth of 9% in the month of July 2023. QSR and Food & 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 O2O, or 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. Retailers have seen a pick-up in business in the last week of July as many of them have started their End of Season Sales.”
Retail businesses across regions have indicated growth in sales as compared to July 2022 sales level with South India signaling growth of 12%, while West India indicated a growth of 9% followed by North India and East India signalling a growth of 7% each.
In categories, QSR and Food & Grocery reported a growth of 15% and 14% respectively, followed by jewellery (12%) and Sports Goods (11%) as compared to sales levels in July 2022.
