ENA Economy 2024-05-17 14:50:00 <p><span style="font-size:14px"><strong>Mumbai, May 17 (KNN)</strong> Retail businesses across India experienced a 4 per cent increase in sales during April 2024 compared to the same month last year, according to the 50th Retail Business Survey conducted by the Retailers Association of India (RAI).</span></p> <p><span style="font-size:14px">The modest growth comes amid a mixed economic landscape, with consumers remaining cautious about discretionary spending even as other sectors like automotive, real estate and travel exhibit strength.</span></p> <p><span style="font-size:14px"> While economic indicators are largely positive, the retail sector has yet to witness the double-digit growth typical of more robust cycles, stated Kumar Rajagopalan, Chief Executive Officer of RAI.</span></p> <p><span style="font-size:14px"> Customers appear to be prioritising major purchases over non-essential retail goods as they await greater clarity following the upcoming national elections in June, he added.</span></p> <p><span style="font-size:14px">Regionally, sales expanded by 5 per cent in North, South and West India, outpacing the 2 per cent growth seen in the East. By category, the quickservice restaurant (QSR) and food/grocery segments led with 7 per cent year-over-year increases, followed by a 6 per cent gain in jewellery sales.</span></p> <p><span style="font-size:14px">Rajagopalan expressed optimism that retail demand would accelerate in the latter half of 2024 once post-election market certainty takes hold. For now, however, a mood of consumer prudence appears to be constraining more vigorous retail performance nationwide.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37847 https://knnindia.co.in/news/newsdetails/economy/retail-sales-in-india-see-modest-4-growth-in-april-2024 2024-05-17 14:50:00 knnindia.co.in