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Analysis:
Analysis

Global Powers of Retailing 2023

Strong revenue growth and continued focus on sustainability

The Global Powers of Retailing 2023 report shows the top 250 companies posting 8.5% year-on-year growth in retail revenue, up from 5.2% in the previous year. The apparel and accessories sector achieved the highest annual sales growth with 31.3%. The top 250 retailers achieved an average net profit margin of 4.3%. With 73% of Consumer Industry CXOs having increased investments in sustainability over the last year, this remains high on the agenda. The full report further analyzes the fastest growing retailers, new entrants, and the future of the store.

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Majority of top-10 retailers boost their digital capabilities

Walmart again leads the world’s global retailers, but we do see some changes in the top 10. China’s online retail specialist JD.com, for example, entered the top 10 at position 9 last year. This year they climbed to position 7 as a result of their 25.1% growth in retail revenue, also making them the fastest-growing top-10 retailer. For a second consecutive year, Latin American retailers recorded the largest composite five-year Compound Annual Growth Rate and year-on-year retail revenue growth.

Digital retailers benefitted from the shift towards digital shopping, during and after the pandemic. In fact, the majority of the top-10 retailers have actively boosted their digital capabilities through either the implementation of in-store technologies or through enhancing their omni-channel offerings.

Focus on sustainability remains, but type of investment is shifting

As many retailers continue to invest in sustainability initiatives, we see four focal points in their efforts. These are:

  •  the resale market
  •  the need to embed sustainability practises across supply chain operations
  •  the role of technology in sustainability
  • the adherence to ESG-related regulations and frameworks

Lululemon’s like new program for example enables customers to buy and sell their slightly used products. In an interview, Ahold Delhaize shared how they work on reducing scope 3 emissions on a group level and at a local level in their retail store. Read more about sustainability strategies of the world’s leading retailers.

Explore the Global Powers of Retailing highlights online

Explore the full analysis in the report

The full Deloitte’s Global Powers of Retailing 2023 report  identifies the 250 largest retailers around the world based on publicly available data for FY2021, and analyzes their performance across geographies and product sectors. It also zooms in on the top 10, looks at the fastest growers and the new entrants, and investigates what retailers are doing in the field of sustainability and creating the future of the store.

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Global Economic Outlook for 2023

What can retailers expect from the global economy in 2023? It seems likely that during the year, the rapid rise in inflation and the surge in commodity prices will stabilise or reverse. It also looks like we’ll see less global supply chain disruption than in the previous year.
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Fastest 50 Retailers

16 new retailers entered the fastest 50 this year, including 5 luxury retailer brands. The fastest 50 are the 50 retailers in the global top 250 with the highest compound annual growth rates (CAGR) in revenue for the period FY2016 to FY2021.
Analysis
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Sustainability in retail

The last few years have seen a continuing focus on sustainability, but the focus of retailers’ efforts is shifting into new areas. Key themes include the importance of the resale market, the need to embed sustainability practices across supply chain operations, the role of technology in sustainability and the adherence to ESG-related regulations and frameworks.
Analysis
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Retail across the world

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 2023 report and analyzes retail performance of the Top 250 retailers by region.
Analysis
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Key contact

Evan Sheehan

Global Retail, Wholesale & Distribution Sector Leader

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