“While the economic indicators for the culinary are bright, the retail sector is yet to witness double-digit growth as per normal trends. Customers have been cautious while spending on non-essential items while they are splurging on capital purchases like vehicles, housing, travel. We hope that growth will pick up speed post-election results in June,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI).
Retail businesses across regions have indicated growth in sales as compared to April 2023 sales levels, with sales in North, South, and West India at 5% each, followed by East India signalling a growth of 2%.
In categories, QSR and food & grocery reported a growth of 7% each, followed by jewellery showing a growth of 6% as compared to sales levels in April 2023.
