CMS Info Systems Ltd

Just add on, recently CMS published this article on 3rd Jan 2024:

Key points:

1. CMS Info Systems analyzed 11 consumer-facing sectors in organized retail for H1 FY24.
2. Retail consumption in B2C sectors saw a robust annual increase of 9.3% in the key 11 sectors during April–September 2023.
3. FMCG and e-commerce sectors experienced significant annual growth of 26.2% and 19.4%, respectively, in Q2-FY24.
4. Aviation and Hospitality sectors witnessed annual growth of 29.7% and 12.8% in Q2-FY24, driven by events like the Cricket World Cup.
5. The jewelry sector rebounded with an annual growth of 7.1%, recovering from a 4.6% decline in Q2-FY23, possibly due to increased spending during the wedding season.
6. The large format retail sector saw an annual increase of 7.8% in Q2-FY24, influenced by rising incomes, urbanization, and changing consumer preferences.
7. SURU (semi-urban and rural) outpaced metro cities in consumption growth, with the fastest growth of 9.2% YoY in H1 FY24.
8. CMS Cash Index™ (CCI) is highlighted as a powerful indicator, showing a surge in retail consumption parallel to the 7.6% GDP growth in Q2-FY24.
9. Expectations of stronger consumption growth in Q3-FY24, especially in FMCG, e-commerce, and aviation sectors, supported by macroeconomic indicators.