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Global Powers of Retailing 2017
The art and science of customers
This report considers the impact that living in the customer-driven economy is having on the shopping experience and retail industry business strategies.
Deloitte’s latest Global Powers of Retailing report marks the 20th year of identifying the 250 largest retailers around the world and analysing their performance across geographies, sectors, and channels.
Top 250 retailers
This year’s report finds that the top 250 global retailers generated aggregated revenues of US$4.31 trillion in FY2015 (fiscal years ended through June 2016), representing composite growth of 5.2 percent.
Where South Africa features
Five South African companies feature on the list, with Steinhoff being the best performing South African retailer on the list, followed by Shoprite, The Spar Group, Pick n Pay Stores and Woolworths Holdings.
Global economic outlook
Slow economic growth in major developed economies, high levels of debt in emerging countries, deflation or low inflation in rich countries and a protectionist backlash against globalisation were among dynamics which contributed to a challenging economic environment for retailers. And yet people still need to shop, so the industry carries on. In some places and with some cohorts of shoppers, the outlook for retailers is favourable.
Seismic shift in retail trends
Over the last 20 years we have seen a seismic shift in retail and the customers that retailers serve. We are living in an era where customers are in the driver’s seat more than ever before and they are craving authenticity, newness, convenience, and creativity. We are living in the customer-driven economy. The report discusses the art and science of customer engagement to help retailers design fresh experiences, enabled by the right technology, and strengthen customer loyalty.
How can Deloitte help:
We work with our clients throughout the retail value chain; having both global reach and a thorough understanding of different market dynamics in Africa, and partnering with them to provide solutions tailored to their needs.