Indian brand features in the Top 250, fifth year in a row has been saved
Indian brand features in the Top 250, fifth year in a row
Deloitte’s Global Powers of Retailing Report
- The Indian brand, Reliance Retail, ranked 56th on the Top 250 list based on the retail revenue growth for FY2020.
- Walmart continues to lead the list, while Amazon becomes the number two global retailer.
- E-commerce was a key growth driver during the pandemic.
- Retailers are becoming more focused on sustainability and most of them in the Top 250 list have outlined their ESG commitments and are publishing ESG-related metrics.
National, 15 March 2022 – Riding on the back of strong digital capabilities through the expansion of its e-commerce platform, Reliance Retail has secured the second position in the list of Fastest 50 retailers, according to the latest Deloitte report Global Powers of Retailing 2022. This is the company’s win 5th time in a row.
The Top 250 global retailers generated an aggregated revenue of US$5.11 trillion in FY2020, *representing a composite growth of 5.2 percent.
E-commerce, rapid organic store expansion, M&A activity, and continuing efforts by retailers to build a strong consumer base are some key driving factors for high retail revenue growth this year, globally.
Despite the pandemic-induced lockdowns, Reliance Retail was the second-fastest growing retailer, posting a five-year CAGR growth in retail revenue of 49.4 percent from FY2015-20. The firm ranked 56th on the Top 250 list, despite the restrictions/lockdown of store operations, which led to a 5.3 percent fall in retail revenue in FY2020. The continuous efforts to broaden the company’s digital capabilities through expansion of its e-commerce platform, JioMart, and several key acquisitions of e-commerce businesses led to its growth.
Speaking on the launch of the report, Porus Doctor, Partner and Consumer Industry Leader, Deloitte India said, “Millennials and Gen Z consumers have shown a willingness to pay a premium for sustainable products. This year’s report indicates that 55 percent consumers purchased a sustainable product or service, and describes how retailers globally are tackling sustainable and responsible growth. Companies should focus on innovation and transformation of their business models as demand rises significantly for sustainable products; and to ensure continued profitability.”
Globally, Europe has the highest number of Top 250 retailers with 90 companies being based in the region, whereas North America has the highest share of Top 250 retail revenue at 48.4 percent.
Global powers of retailing Top 250
Some key trends and highlights from the report include the following:
- With the fashion industry being subjected to criticism due to its environmentally harmful practices, retailers have responded swiftly by introducing a new era of ‘fashion re-commerce’
- Thirty-five of the Fastest 50 operated hypermarkets/supermarkets, specialty stores (including electronics specialty but excluding fashion specialty), or discount stores.
- Amongst the Fastest 50, 27 companies were from the FMCG sector (compared with 24 in FY2019), and 16 were from the hardlines and leisure goods sector (compared with 13 in FY2019).
About the report
The report identifies 250 largest retailers around the world based on publicly available data for FY2020 (financial years ending within the 12 months from 1 July 2020 to 30 June 2021), and analyses their performance across geographies and product sectors. It also provides a global economic outlook, looks at the 50 fastest-growing retailers, and highlights the new entrants to the Top 250 list.
Notes to the editor for reference purposes only
Deloitte India herein refers to Deloitte Touche Tohmatsu India LLP
This press release has been issued by Deloitte Touche Tohmatsu India LLP.
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