Retail Sales Slump Calls for Immediate Strategic Boost, Says RAI

The Retailers Association of India (RAI) has highlighted weak retail sales growth as a pressing concern needing swift strategic interventions. With only modest growth across regions, there is an urgency to stimulate consumer demand to ensure sustainable industry growth.

Weak retail sales across the nation are alarming and require immediate strategic measures, according to the Retailers Association of India (RAI).

"The retail sector in India is struggling as businesses experience negative growth on a like-for-like basis compared to last year. This calls for strategic interventions to boost demand and drive sustainable growth," stated Kumar Rajagopalan, CEO of RAI.

The RAI's 53rd Retail Business Survey revealed that pan-India retail sales growth recorded a modest 2 percent increase in July 2024 compared to the previous year. Region-wise, the West outperformed others with a 3 percent rise, though the East and North regions registered only 1 percent growth.

"RAI urges for the implementation of strategies to rejuvenate consumer demand and foster long-term industry development," the association's statement noted.

The RAI represents a unified voice for Indian retailers, working with stakeholders to cultivate a favorable environment for modern retail growth. The association advocates for retail businesses, engaging with all government levels to promote employment growth, sustain retail investments nationwide, and enhance consumer choice and competitiveness.

(With inputs from agencies.)