New Delhi, June 19 (KNN) Retail sales in May 2023 showed a moderate growth of 7% as compared to the sales levels during the same period in May 2022, as per the 40th edition of the Retail Business Survey.

The survey was revealed by the Retailers Association of India (RAI) on Monday.

Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers witnessed a modest growth of 7% in the month of May 2023. Jewellery and apparel showed moderate growth at 9% while sportswear has shown a 2% growth, which is the lowest growth since the pandemic.”

“As consumers are now getting into their normal business routines, we are witnessing moderate growth over previous year. However, we are also aware that April and May months in 2022 witnessed extra ordinary growth at 23% and 24% respectively compared to pre-pandemic period (April 2019 and May 2019),” he added.

Rajagopalan further said, “We will have to wait and watch how the next three months pan out to draw a proper conclusion.”

Retail businesses across regions have indicated growth in sales as compared to May 2022 sales level with East India signalling growth of 8%, while South India and West India indicate a growth of 7% and 6% respectively followed by North India at 5%, as per the survey.

In categories, jewellery and apparel reported a growth of 9% followed by Food & Grocery at 8% and Quick Service Restaurants (QSR) at 7% as compared to sales levels in May 2022.   (KNN Bureau)