Retailers posted 5% growth in December: Retailers Association of India
Retailers reported 5 per cent growth impacted by inflationary pressures in December over same period last year , as per the latest survey by Retailers Association of India (RAI). The industry is now hoping for measures in the upcoming budget to boost consumption.
The 57th Retail Business Survey, is for the period from 2 December 2024 to 29 December 2024 compared to the same festive time period last year (4 December 2023 to 31 December 2023). This comes at a time when consumer discretionary spending is witnessing sluggish growth in urban regions.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Inflation and other payment obligations for EMI etc. are continuing to weigh on discretionary spending. The wedding season provided some boost to categories like apparel and jewellery, but overall consumption remains subdued.”
“Notably, QSR is showing early signs of recovery, offering a glimmer of optimism for the sector. With the Union Budget around the corner, the retail industry hopes for measures that address inflation and boost consumer confidence,” he added.
The survey revealed that South India experienced the highest sales growth at 6 per cent while West and North India each recorded a 5 per cent increase. East India showed a growth of only 4 per cent, it added
In terms of categories QSR registered the highest growth of 10 per cent followed by apparel, food & grocery and sports goods each showing growth of 7 per cent compared to December 2023 period last year.
Apparel and clothing segment also garnered 7 per cent growth , while beauty, personal care and wellness segment garnered 6 per cent growth . Furniture and furnishings, jewellery and footwear segments each garnered 3 per cent growth. Meanwhile, consumer durables and electronics segment recorded 2 per cent.
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