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Indian Retailers Report Steady August Growth Ahead of Festival Season

Indian Retailers Report Steady August Growth Ahead of Festival Season
Retailers saw steady growth trends in August ahead of festival season: RAI · thehindubusinessline.com

Indian stores had a stronger August than they did earlier in the year.

Their sales were 10% higher than in August last year.

Sales growth had fallen to 5% in May but improved each month afterward.

Restaurants that serve food quickly and grocery stores performed especially well.

Clothing, footwear, jewelry, and personal-care businesses also grew.

Furniture grew more slowly, while electronics remained stable.

Retailers are preparing for the festival shopping season.

They feel hopeful about shoppers in India but remain careful because of uncertainty around the world.

Key facts

Overall August growth
10% year-on-year across India
Monthly growth trend
5% in May, 6% in June, 8% in July, and 10% in August
Regional leader
West India, at 11% growth
Fastest-growing category
Quick service restaurants, at 15% growth
Food and grocery growth
12% year-on-year
Slowest reported category
Furniture and furnishing, at 4% growth
Same-store spending
The RAI-Innoviti SANKET report recorded 9.6% growth in August, up from 7.1% in July

Quotes

Kumar Rajagopalan

Executive Director and CEO of the Retailers Association of India

“While momentum softened following April, we have seen a clear and encouraging rebound since July.”
thehindubusinessline.com

Sources

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