德勤-2021全球零售力量：全球零售250强平均规模升至194亿美元（英文）-2021.4-52页_1mb

报告摘要

Deloitte Global Powers of Retailing 2021 Summary

Core Content Overview

The Global Powers of Retailing 2021 report identifies the Top 250 largest retailers worldwide based on FY2019 (fiscal years ended through 30 June 2020) data and provides an in-depth analysis of their performance across geographies and product sectors. It also includes a global economic outlook, insights into the impact of the pandemic on retail, and highlights the Top 10 retailers, the fastest-growing 50, and new entrants to the list.

Key Statistics from the Top 250

Aggregate retail revenue: US$4.85 trillion
Average size of Top 250 retailers: US$19.4 billion
Minimum retail revenue to enter Top 250: US$4.0 billion
Composite year-over-year retail revenue growth: 4.4%
5-year retail revenue growth (CAGR FY2014-2019): 5.0%
Composite net profit margin: 3.1%
Composite return on assets: 4.3%
Percentage of Top 250 retailers with foreign operations: 64.8%
Share of aggregate retail revenue from foreign operations: 22.2%
Average number of countries with retail operations: 11.1

Global Economic Outlook (April 2021)

The world faced both promise and peril in early 2021. Vaccine distribution was underway, offering hope for economic recovery, but new strains and lockdown measures continued to threaten stability.
The pandemic has been a perfect storm for many retailers, with suppressed economic activity, declined consumer mobility, and increased online activity.
Consumer behavior may not return to pre-pandemic patterns, leading to permanent shifts in retail, such as declining in-store shopping and increased online engagement.
A K-shaped recovery is expected, where middle-to-lower income workers face financial stress while highly educated workers see increased wealth and job security.

Regional Analysis

United States

The economy weakened in late 2020, with declines in employment and retail sales, but consumer spending began to rebound in early 2021.
The $900 billion stimulus package in December 2020 and the $1.9 trillion stimulus in March 2021 were expected to boost growth but raised concerns about inflation.
Online retail grew sharply, offsetting declines in in-store shopping.
Walmart remained the largest retailer, while Amazon overtook Costco to become the second-largest, driven by high growth in online sales.

Europe

A second wave of the virus in October 2020 led to lockdowns and a decline in economic activity.
The UK had the best vaccine distribution but also the worst economic performance due to strict restrictions.
Consumer confidence in physical stores remains a key factor for economic recovery in Europe.
Schwarz Group (Lidl and Kaufland) showed strong growth, but withdrew from the UK and Australia in 2020.

China

The economy grew at a healthy pace, supported by consumer confidence and strong exports.
Online retail expanded significantly, with mobile commerce infrastructure aiding the transition.
However, economic growth may be slowing due to declining demand in key export markets and local outbreaks.

Japan

The economy performed poorly in 2020 but bounced back strongly in the fourth quarter.
Real GDP grew at 12.7% in Q4, though it was still 1.2% below 2019 levels.
Consumer demand for durable goods was strong, but service sectors like travel and apparel remained weak.
The absence of foreign visitors during the Summer Olympics may suppress growth.

Emerging Markets

Most emerged markets experienced temporary economic collapses and rising debt.
Recovery depends on vaccine distribution, global commodity prices, remittances, and the tourism industry.
Capital outflows from emerging markets were driven by rising US bond yields.

Top 10 Highlights (FY2019)

Rank	Change	Company Name	Country	FY2019 Retail Revenue (US$M)	FY2019 Growth	Net Profit Margin	Return on Assets	5-Year CAGR	# Countries	% Foreign Revenue
1	↔	Walmart Inc	US	523,964	1.9%	2.9%	6.4%	1.5%	27	23.2%
2	↑+1	Amazon.com	US	158,439	13.0%	4.1%	5.1%	17.7%	17	31.0%
3	↓-1	Costco	US	152,703	7.9%	2.4%	8.2%	6.3%	12	26.8%
4	↔	Schwarz Group	Germany	126,124	8.6%	n/a	n/a	7.4%	33	66.0%
5	↔	Kroger	US	121,539	1.0%	1.2%	3.3%	2.3%	1	0.0%
6	↔	Walgreens	US	115,994	4.8%	2.9%	5.9%	8.7%	9	9.9%
7	↔	Home Depot	US	110,225	1.9%	10.2%	21.9%	5.8%	3	8.1%
8	↔	Aldi	Germany	106,326	5.6%	n/a	n/a	6.4%	19	68.9%
9	↔	CVS Health	US	86,608	3.1%	n/a	n/a	5.0%	1	0.0%
10	↔	Tesco	UK	81,347	1.4%	1.5%	1.9%	0.8%	8	18.3%

Main Trends and Insights

Online retail has grown significantly in all regions, especially in the US and China.
Supply chain disruptions have been a major challenge, with reduced consumer spending on discretionary items and shifts in consumer behavior.
Global companies are increasingly focusing on resilience, redundancy, and diversification in their supply chains, moving away from heavy reliance on China and toward Southeast Asia and Latin America.
Amazon became the second-largest retailer in the world, surpassing Costco, due to rapid online growth and strategic investments.
Walmart expanded its omnichannel strategy, while divesting foreign operations in Brazil, Argentina, and Japan.
Kroger struggled with slow growth and declining convenience store sales, but digital sales grew by 28%.
Emerging markets face challenges in debt management and recovery, with vaccine distribution being a key determinant.

Methodology and Data Sources

The report uses publicly available data for FY2019.
It includes financial performance and operational data from company annual reports, Supermarket News, Forbes, and other sources.
The Top 10 list is based on retail revenue, with geographic and product sector analysis provided.