MUMBAI: The forty ninth version of the Retail Business Survey by the Retailers Association of India (RAI) signifies that sales in March 2024 confirmed a progress of 8% as compared to sales ranges in March 2023.
Speaking concerning the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), mentioned, “In March 2024, our review of the retail sector revealed signs of a recovery in growth.The consumption landscape appears robust, driven by increased discretionary spending on apparel and sporting goods. However, the jewellery sector, despite its significant growth since last Diwali, has experienced a slight slowdown this past month, likely due to the recent surge in gold prices. The CDIT (consumer durables and IT) segment is yet to recover.”
He mentioned, “In the lead-up to General Election 2024, we are optimistic about the retail sector’s growth prospects. Historically, election years catalyse economic activities, enhancing consumer spending across regions and categories. This year we expect a similar trend, with substantial increases in discretionary spending, particularly in sectors such as FMCG and consumer durables.”
RAI mentioned retail companies throughout areas have indicated progress in sales as compared to March 2023 sales stage. The highest occurred in South India signalling a progress of 9%, whereas Western India indicated a progress of 8% adopted by North and East India signalling a progress of seven% and 6% respectively.
In phrases of classes, sports activities items reported a progress of 11% adopted by attire and sweetness at 10% every as compared to final March.
RAI claimed optimism is seen as retail chains have resumed enlargement throughout the nation.
Speaking concerning the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), mentioned, “In March 2024, our review of the retail sector revealed signs of a recovery in growth.The consumption landscape appears robust, driven by increased discretionary spending on apparel and sporting goods. However, the jewellery sector, despite its significant growth since last Diwali, has experienced a slight slowdown this past month, likely due to the recent surge in gold prices. The CDIT (consumer durables and IT) segment is yet to recover.”
He mentioned, “In the lead-up to General Election 2024, we are optimistic about the retail sector’s growth prospects. Historically, election years catalyse economic activities, enhancing consumer spending across regions and categories. This year we expect a similar trend, with substantial increases in discretionary spending, particularly in sectors such as FMCG and consumer durables.”
RAI mentioned retail companies throughout areas have indicated progress in sales as compared to March 2023 sales stage. The highest occurred in South India signalling a progress of 9%, whereas Western India indicated a progress of 8% adopted by North and East India signalling a progress of seven% and 6% respectively.
In phrases of classes, sports activities items reported a progress of 11% adopted by attire and sweetness at 10% every as compared to final March.
RAI claimed optimism is seen as retail chains have resumed enlargement throughout the nation.
