According to the survey, West India recorded the highest sales growth at 3 percent, followed by South India by 2 percent, while northern and eastern India showed an increase of 1 percent each.
Of the different retail categories, food and groceries recorded the highest growth of 6 percent, followed by 3 percent in apparel and jewelry compared to July 2023.
The report explains the trends that govern the different retail segments in different parts of the country. “The retail business has not yet shown double-digit growth in comparable terms.”
“The retail sector in India is facing challenges “Businesses are yet to see any real growth compared to the previous year. Most retailers are claiming negative growth on a comparable basis, which is a cause for concern,” said Kumar Rajagopalan, executive director, Retailers Association of India (RAI).
This underscores the need for strategic interventions to boost consumer demand and promote sustainable growth across the industry, he added. RAI calls for the implementation of strategies to stimulate consumer demand and foster the long-term development of the retail industry by all its stakeholders.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.