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Retail business sales witness 6% growth in March 2023 compared to last year: RAI Retail Business Survey

Retail businesses across regions have indicated growth in sales with East India signalling growth of 8%, while South India and West India indicate a growth of 7% and 5% respectively followed by North India at 4%

Bengaluru: Pan-India retail business sales in March 2023 showed a growth of 6% as compared to the sales levels during the same period in March 2022, records the Retailers Association of India (RAI) in its 38th edition of the Retail Business Survey.

In categories, furniture and furnishings reported a growth of 13% followed by consumer durables and electronics at 12%. While food and grocery and sports goods showed a growth of 11% each as compared to sales levels in March 2022.

QSR (quick service restaurant) category reported a YoY (year-over-year) growth of 10%.

The beauty, wellness and personal care sector witnessed the least growth of 1% in March 2023 while the apparel and clothing sector as well as the jewellery business recorded sales growth of 2% each.Survey 1“The survey indicates a spike in furniture and furnishings and CDIT (consumer durables and IT) sales. Retailers are witnessing modest growth. RAI is already in touch with the government bodies to enable ease of doing business in the country,” said Kumar Rajagopalan, chief executive officer of RAI.

Retail businesses across regions have indicated growth in sales as compared to the March 2022 sales level with East India signalling growth of 8%, while South India and West India indicate a growth of 7% and 5% respectively followed by North India at 4%.

Retailers Association of India is the apex body which represents offline and online retailers in India. The Mumbai-based trade body was launched in 2004 and is involved with retail advocacy, organizing conferences, knowledge-sharing initiatives and training programs.

 

 

The post Retail business sales witness 6% growth in March 2023 compared to last year: RAI Retail Business Survey appeared first on India Retailing.



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