Press releases

FMCG, M&A trends amongst the key drivers of retail growth

Deloitte Global report

  • Despite Deceleration in Economic Growth Top 250 Global Retailers Generate Revenues of US $ 4.53
  • Nearly a quarter of the companies from the Top 250 retailers were from the Asia Pacific region.
  • Reliance, the only Indian company on Top 250 List climbs 95 places to reach no. 94

MUMBAI, 22 January, 2019 — According to Global Powers of Retailing 2019,a new report from Deloitte Global, the FMCG sector continued to be the key driver of growth,for the Top 250 global retailers helping them achieve strong growth in FY2017 despite economic unstability.Retail revenue increased for nearly 83.2 percent of the world’s 250 largest retailers (208 companies), generating an aggregate revenues of US$4.53 trillion in fiscal year 2017.

While Europe had the highest number of Top 250 retailers, individual companies from other regions such as Amazon and Reliance did exceptionally well by climbing 2 and 95 spots respectively on the strength of exceptional retail growth. Amazon saw a retail growth of 25.3 %, Reliance nearly doubled its retail revenue in FY2017.

Commenting on the report and providing an outlook for the Indian market, Deloitte India spokesperson said, “ Despite deceleration in the global economy,the consumer and investor sentiment continue to remain positive.

Our global reports highlight, out of the top 10 companies on the top 250 list, eight were FMCG companies and that sector has been a strong reason for the India retail story.

Additionally, mergers and acquisitions especially in the e-commerce segment continued as retailers tried to achieve better economies of scale and leverage consumer demand for e-commerce”.

The Deloitte Global report show, the growth sluggish in Europe, China, and Japan due in part to the changes in policy in the US, the retailers continued to grow as a result of increased M & A activity, new store openings and robust e-commerce activity.

In relation to the report, Dr. Ira Kalish, Deloitte Global Chief Economist, explained “The global economy is currently at a turning point. Until early 2018, the global economy displayed strong growth. With inflation accelerating in major markets, governments making shifts in monetary and fiscal policies, and most of the emerging markets experiencing significant currency depreciation the global economy will slow down in the near future. For retailers, this change will mean slower consumer spending growth, higher consumer prices, and disrupted global supply chains.”

Media contact:
  • Mou Chakravorty
    Deloitte India

Other trends from the report

  • Growth slowed in Europe and China but peaked in the US: Growth of the Top 10 outpaced that for the Top 250 retailers, at 6.1 percent and 5.7 percent respectively
  • Despite protectionist policies, ecommerce continues to perform well: China based e-commerce retailers, Vipshop Holdings Limited and, Inc., are among the top three Fastest 50 retailers in FY2017. Vipshop’s retail revenue increased by 73.8 percent composite CAGR from FY2012-2017 and’s by 52.4 percent
  • Store expansion and M & A activity drove revenue growth:Walmart retained its position as the world’s largest retailer partially as a result of acquisition of e-commerce websites such as Flipkart,, ModCloth, Shoes. com, Moosejaw, and Bonobo, apart from greater investments in store remodeling to integrate its store and digital businesses
  • Product Sector Analysis: While FMCG companies may be the most numerous and Apparel and accessories retailers may be the most profitable on the Top 250 list, hardlines and leisure goods drove growth in FY2017, story with LVMH contributing more than quarter of the Fastest 50 total net profit

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Notes to the editor for reference purposes only

This press release has been issued by Deloitte Shared Services India LLP

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see for a more detailed description of DTTL and its member firms.

Deloitte India herein refers to Deloitte Shared Services India LLP

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