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. On a sales-weighted, currency-adjusted composite basis, the fastest 50 grew by 20.1% year-on-year, more than double the 8.5% growth for the top 250.
Consumer behaviour is shifting
Looking at the fastest 50 gives us an insight into consumer behaviour. The number of hardline and leisure goods as well as apparel and accessories retailers is disproportionately larger in the fastest 50 than in the top 250. It seems the shift in consumer spending is partly the result of relaxation of Covid restrictions. In 2021, there was a shift towards the addition of home improvement retailers, department stores, apparel/footwear stores and cash & carry/warehouse club retailers in the fastest 50, taking away from the number of supermarkets, drugstore/pharmacies, discount stores and convenience/forecourt stores in the ranking.