In comparison to the same festive time last year (2 October 2023 to 26 November 2023), the retail industry grew by 7% between 7 October 2024 and 1 December 2024, according to the 56th Retail Business Survey published by the Retailers Association of India (RAI). The report identifies major trends influencing distinct retail markets in the nation’s diverse regions.
“RAI’s study shows a modest 7% rise throughout the October–November holiday season, which is less than the predicted 10% growth. Throughout the year, consumption growth has been muted, which has led shops to increase sales by promoting seasonal purchases and offering special deals. Since maintaining profitability requires a steady growth trajectory due to growing operating costs, we anticipate greater growth in 2025. According to Kumar Rajagopalan, CEO of the Retailers Association of India (RAI), “inflation, increased competition, and restricted spending, especially by the lower middle-class population, remain significant challenges.”
According to the poll, North, South, and East India all saw increases in sales of 7%, while West India had the most gain at 8%.
Compared to the same festive time last year, food and groceries saw the largest gain in terms of categories, at 14%, followed by QSR at 10% and jewelry at 9%.
