Retail

Indian retail sector witnesses 5% growth in February 2024: RAI

22 Mar '24

1 min read

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Insights

The Indian retail sector experienced a 5 per cent growth in February 2024.
Apparel and clothing saw a 6 per cent YoY increase.
Footwear and sports goods saw notable rises of 8 per cent and 9 per cent, respectively.
Regionally, West and South India recorded 6 per cent growth, outpacing North and East India, which grew 4 per cent and 3 per cent, respectively.

The Indian retail sector reported an average growth of 5 per cent in February 2024 compared to the same period last year, signalling a tepid rise in consumer demand, according to the recent Retail Business Survey conducted by the Retailers Association of India (RAI). Among the categories showing promising growth, apparel and clothing retail saw a 6 per cent year-on-year increase.

Notably, specific segments such as footwear and sports goods contributed significantly to the overall retail growth, witnessing an increase of 8 per cent and 9 per cent year-on-year, respectively.

Regionally, the performance varied across the country, with retailers in West and South India leading the growth charts at 6 per cent each. In comparison, North India saw a slightly lower growth rate at 4 per cent. East India lagged behind its counterparts, recording the least growth at only 3 per cent, as per the survey.

Fibre2Fashion News Desk (DP)

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