According to the Retailers Association of India’s (RAI) latest business survey, retail sales in India increased 10% in February this year compared to the same month last year, indicating that the industry is returning to normalcy. The increase is also a 6% increase over February 2020.
Growth in the regions might provide a guide on where your best brand opportunities are – Retail firms in all regions showed growth in February 2022, with sales in West India up 16% YoY, East India increased by 4%, North India increased by 17%, and South India had a 4% increase.
Consumer durables and electronics, food and grocery, and quick service restaurants (QSR) all saw strong YoY increase of 28%, 19%, and 16%, respectively.
The apparel and footwear categories have also shown double-digit increase.
Talking to your State Government India business offices and to Austrade is a good idea – and have a chat with those who have been there before you.