Sale of electronics grew 25 per cent in 2022-23

Sales of household essentials, groceries and personal care items grew 8 per cent in the year ended March 31, while electronic product sales surged by 25 per cent.

Last financial year, sales had grown at a higher 18 per cent for FMCG items and 30 per cent for electronics and durables, mainly due to a lower base of the previous year on account of the pandemic restrictions and lockdown, according to industry executives and Bizom, a data provider.

Why it’s important: The increase in sales was helped by a gradual recovery in the last quarter after a decline or flat growth in the initial few months of the financial year. Worryingly, the pace of growth is declining. Moneycontrol