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Retail across the world

A breakdown of retail performance by region

Retailers in different regions show very different retail sales figures and growth dynamics. This can be due to size in the market, government policies, taxes, or geopolitical issues. The Global Powers of Retailing report looks at the different regions and analyses retail performance of the Top 250 retailers by region.

Africa/Middle East

Cumulatively, the ten companies from this region in the top 250 occupy a retail revenue share of 1.3% of the companies on the list. South African retailer Shoprite reported that it had opened an additional 117 stores during the financial year and has set a goal to open 275 stores during the next year as it holds its position as number one retailer in the region, posting a retail sales growth of 9.6%.

The composite performance of the companies in the Africa/Middle East region totalled 8.6% growth in retail revenue in FY2021. Retail revenue grew particularly fast in Turkey, at 31.6%. Cumulatively, the top-five retailers in the Africa/Middle East region grew in total market share from 61% to 63%, with the top three – Steinhoff, BİM Birleşik Mağazalar and A101 Yeni Mağazacılık – showing double digit growth.

Asia Pacific

FY2021 saw a 15.7% share of retail revenue from the 60 Asia Pacific companies in the top 250. The top growing retail markets in Asia Pacific are South Korea, Japan and China including Hong Kong SAR, reporting retail revenue growth of 3.9%, 11.1% and 10.8%, respectively. These markets were driven by Coupang (South Korea), Seven & i (Japan), and Alibaba (China including Hong Kong SAR). The strong performance of these leading retailers was mainly driven by sales through digital channels and international expansion. The composite CAGR for the companies in the Asia Pacific region for the period FY2016-2021 was 6.7%, 3.3 percentage points above the previous year.


Europe provided 90 companies to the top 250 retailers in the world, providing 33.2% to the top 250 in terms of total revenue share. The top four fastest-growing European retailers were all luxury fashion brands. Taking the top position was high-end fashion retailer LVMH, which grew by 51.4% year-on-year, to nearly USD 56.3 billion. Its strong performance was partly due to the acquisition of Tiffany & Co, as well as organic growth in its Asian and US markets, especially through online channels. The FY2021 composite net profit margin totaled 4.4%, the second-largest net profit margin of any geographical region.

Latin America

There were 11 Latin American retailers in the top 250. They occupied 1.8% of the global retail revenue share, and recorded the largest composite five-year CAGR and year-on-year retail revenue growth in FY2021. The fastest-growing retailer in the Latin America region was Mexican department store El Puerto de Liverpool, which grew in year-on-year retail revenue by 35.5%. The fastest growing market in the region was Chile, which grew its retail revenue by 18.5%. Growth in Chile was primarily led by Chilean department store and home improvement retailer S.A.C.I Falabella, who saw a 25% increase in customers, in part thanks to the launch of their new online marketplace and home-delivery service.

North America

North America saw 79 companies in the top 250, providing a 47.9% share of global retail revenue. An 8.9% year-on-year composite retail growth was recorded in the region. Nearly 46% of North American retailers achieved double digit annual retail revenue growth in FY2021, a six-percentage point increase compared to the prior year. Consumer shopping behaviour once again supported in-store sales, and the largest annual retail growth rates were seen with apparel and accessories retailers. The fastest growers in the region include Neiman Marcus, Burlington Stores and Dillard’s.

Note on methodology

Although global retailers often operate in various regions, for the purposes of this report, 100% of each company’s sales are accounted for within the region that the company is headquartered in, even when the sales are made outside of that region.

Which countries and which companies contributed to the region’s revenue?

Download the full Global Powers of Retailing 2023 report to find out more about each region. The report focuses on the various regions by looking at which countries and which companies contributed to the total retail revenue in that region. The full report also looks at the top 250, the fastest growers, and provides an analysis of performance across product sectors. Finally, it explores what retailers are doing in the field of sustainability and creating the future of the store.

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