Retail sales in October and November 2023 grew by only 7% compared to the same period in 2022, despite the festive season, according to a survey by the Retailers Association of India (RAI). Many retailers faced muted footfalls, and sales were similar to the previous year. The growth varied across regions, with East India signaling an 11% growth, South India 7%, North India 6%, and West India 5%.
India Festive Season: Retail sales in October and November 2023 grew by only 7% compared to the same period in 2022, despite the festive season, according to a survey by the Retailers Association of India (RAI). Many retailers faced muted footfalls, and sales were similar to the previous year. The growth varied across regions, with East India signaling an 11% growth, South India 7%, North India 6%, and West India 5%.