retail sales growth: Retail sales grew by 9% in August, says Retailers Association of India

Retail sales in August 2023 showed a growth of 9% as compared to the sales levels during the same period in August 2022, according to the survey by Retailers Association of India (RAI).

Retail sales across categories grew 9% year on year in July, while apparel sales rose 8%.

“QSR and Jewellery showed a growth at 14% each, while food & grocery has shown a 13% growth. It looks as if consumers are going out for shopping. In order to understand the complete impact of the festival season on retail sales, it is essential to see the figures of September, October and November. Retailers are foreseeing the double-digit growth in the coming months as the festive season is closer,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).

Retail businesses across regions have indicated growth in sales as compared to August 2022 sales level with the highest in South India signaling growth of 15%, while West India indicated a growth of 8% followed by East India and North India signalling a growth of 7% & 6% respectively.

The double-digit growth of South India could be attributed to good number of Muhurtham Days in August, lots of wedding across the four Southern states and Onam festival which started from 20th Aug and lasted till 31st Aug 2023.

In categories, QSR and jewellery reported a growth of 14% each, followed by food & grocery (13%) and beauty (10%) as compared to sales levels in August 2022.