Retail Surge: India's Sales Soar Despite Global Turbulence

India's retail sales grew by 4% in April, as per the Retailers Association of India. The North and West regions led with growth, while quick service restaurants saw the highest category increase. Despite global uncertainties and fewer footfalls, consumer spending remains steady, signaling promising growth.

In April, India's retail sales witnessed a 4% increase year-over-year, according to data from the Retailers Association of India (RAI). This uptick comes amid unsettled global trade conditions, yet domestic demand remains robust.

Regionally, North and West India saw the most significant growth, recording 6% and 5% increases, respectively. In contrast, both East and South India experienced a more modest rise of 2% each.

Quick service restaurants emerged as the frontrunners among retail categories, boasting an 11% growth, while the beauty, wellness and personal care sector, along with food and grocery, both grew by 6%. Meanwhile, sports goods, consumer durables, and electronics saw only a 1% rise as per RAI's findings.

Retailers are cautiously optimistic, noting a consistent consumer spending pattern without any drastic declines. Despite a noted reduction in store footfalls, those who do shop are buying with intent and exploring new product releases.

Kumar Rajagopalan, CEO of RAI, emphasized that retailers with innovative or aspirational products are excelling. Additionally, a report by BCG and RAI projects significant growth for the Indian retail market, expected to reach Rs 190 trillion by 2034, driven by factors like a growing middle class and increased female workforce participation.

(With inputs from agencies.)