Retailers Association of India just released its 55th Retail  Business Survey, which pegs the retail sector’s growth at 5% in September 2024 over the  corresponding period in the previous year. It explains the trends that rule various retail  segments in different parts of the country. There are hopes that the Indian retail sector  will show renewed vigour following a lacklustre growth period from April to September. 

Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “September’s  retail performance highlights that consumers are spending selectively. As we approach the  festive season, this behaviour presents an opportunity for retailers to align their strategies  with consumer expectations. The retail landscape remains favourable for growth, and  energizing consumer demand will be a key to driving long-term success in the industry.  Overall, Indian economy seems to be nice and bullish and the conditions for the retail sector  remain favourable as we move into the holiday season”. 

According to the survey, North India saw the sales growth of 7%, followed by West and  South India which showed an increase of 5% each while East India showed a growth of  only 4%. Of the different retail categories, food and grocery registered the highest growth  of 12%, followed by 8% in jewellery compared to September 2023. 

September numbers show consumers are willing to spend where they see value.