Retail sales slow down in June as consumers tighten purse strings

Retailers in the country reported a 13% increase in sales last month from pre-pandemic June 2019, a slower growth rate than the previous two months, kindling fears that a gradual cutting down of discretionary spending by consumers may impact festive sales.

Headwinds of inflation on consumer spending are still a worry and may impact the upcoming festive fervour, Retailers Association of India (RAI) has said.