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Annual Global Powers of Retailing 2023 ReportReport Details Retail Growth, Continued Focus on Sustainability, and Future of the Store Innovations *Methodology: Analysis of financial performance and operations for fiscal years ended between 1 July 2021 to 30 June 2022 using company annual reports, Supermarket News, Forbes America's largest private companies and other sources. **FY2021 (fiscal years ended between July 1, 2021, to June 30, 2022) NEW YORK, Feb. 23, 2023 /PRNewswire/ -- Today Deloitte Global released the annual Global Powers of Retailing 2023 Report identifying the 250 largest retailers around the world based on publicly available data for FY2021 (*fiscal years ended between July 1, 2021, to June 30, 2022) and analyzes their performance across geographies and product sectors. The report zooms in on the Top 10 and Top 250 retailers, looks at the fastest growers and new entrants, provides an economic outlook for 2023, investigates the latest trends in sustainability and provides insights on the future of the store. The Top 250 retailers achieved a total composite retail growth rate of 8.5% and the Top 10 retailers grew by 8% on a composite sales-weighted and currency-adjusted basis. The leading global digital retailers benefited from COVID-19 pandemic behavioral shifts and the retail environment largely returned to pre-pandemic shopping habits. Attracting customers back to brick-and-mortar locations has become an area of intense investment, while sustainability efforts shifted into new focus areas. "In a year of strong year-on-year growth in retail revenue across the Top 250, sustainability remains high on the agenda. Several players are working on the resale of slightly used goods and we see many technology-enabled innovations. Successful retailers combine technology with the human factor to help provide optimal customer experience. Among the Fastest 50, the main drivers of growth were the luxury brands, e-commerce providers and department stores." Evan Sheehan, Deloitte Global Retail, Wholesale & Distribution Leader Download the Global Powers of Retailing 2023 Report for an in-depth analysis of:
Walmart again led the world's global retailers. Along with Amazon, the digital retailers benefited from consumer behavioral shifts toward digital shopping, during and after the pandemic. JD.com was the fastest-growing Top 10 retailer in FY2021, with revenues up by 25.1%. The majority of the Top 10 retailers boosted their digital capabilities via in-store technologies (i.e., The Home Depot's hdPhones) or through enhancing omnichannel offerings (i.e., JD.com's 'Shop Now' on-demand service). The Top 250 retailers achieved a total composite retail growth rate of 8.5% in FY2021. In comparison, the Top 10 retailers grew by 8% on a composite sales-weighted and currency-adjusted basis, a decline from the 12.4% retail growth by the Top 10 in FY2020. Of the retailers in the Top 10, 70% are in the US, a significantly larger percentage than the 28% of US retailers in the Top 250. Additionally, there was a 2.8 percentage point increase in the retail revenue from foreign operations among the Top 10 (27.9%) relative to FY2020. The composite net profit margin among the Top 10 grew by 0.2 percentage points from 3.9% in FY2020 to 4.1% in FY2021, but net profit margins among the Top 10 vary widely, ranging between -0.5% to 10.9%. Target, Walgreens, and Amazon increased their profit margins by more than 1.5 percentage points in FY2021. The increase in profitability comes despite the continuing pressure from the pandemic, inflation of energy and goods, and rising labor costs. The Top 250 Retailers Pent-up consumer demand for apparel and accessories likely led to the 31.3% annual sales growth in the segment, compared to a 14% fall the previous year. Luxury goods retailers achieved standout performance with the reopening of stores and the re-emergence of social occasions, which tend to lend themselves to purchases of high-end apparel. The department store format benefited, with 25.7% revenue growth, after a challenging FY2020 plagued by many store closures and apprehensive consumers. E-commerce retailers and retailers with developed digital channels posted strong revenue growth during FY2021, on top of the record-breaking returns in the previous year. For the complete report visit: Global Powers of Retailing 2023 | Deloitte Global About Deloitte Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte's approximately 415,000 people worldwide make an impact that matters at www.deloitte.com. Contact: Vicktery Zimmerman - Global Communications - Deloitte Global View original content to download multimedia:https://www.prnewswire.com/news-releases/annual-global-powers-of-retailing-2023-report-301753925.html SOURCE Deloitte LLP |