DelhiDesk Retail sales in India rose 6% YoY in April, according to the monthly Retail Business Survey by the Retailers Association of India (RAI). The southern and eastern regions of the country made the largest contribution to sales growth, while sales in the north were sluggish. Quick service restaurants experienced the largest growth, at 16%, followed by food and grocery at 15%, and furniture and furnishings and consumer durables and electronics at 14% and 9% respectively. Retailers said that the growth in April came on a higher base of the previous year, and that demand for discretionary categories such as apparel and electronics remained weak.
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👉 Retail sales rose 6% year-on-year in April, according to RAI’s monthly Retail Business Survey.
👉 Northern India reported sluggish growth, while southern and eastern regions led sales growth at 7%.
👉 Quick Service Restaurants (QSR) reported growth of 16% in April, followed by food and grocery at 15%.
👉 Furniture and furnishings, and consumer durables and electronics (CDIT) reported annual growth of 14% and 9%, respectively.
👉 Overall demand for discretionary categories like apparel and electronics remained underwhelming due to high inflation.
👉 RAI tracks business performance of retailers across India in multiple categories.
👉 Retailers witnessed a modest growth of 6% in April 2023, compared to super growth of 23% in April 2022.
👉 Growth in April came on a higher sales base of the previous year.
👉 Kumar Rajagopalan, CEO of RAI, awaits results for the coming months to draw definitive conclusions.
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