Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

EMKE GROUP/LULU GROUP INTERNATIONAL, MAJID AL FUTTAIM HOLDING LLC AND SAVOLA GROUP APPEAR ON DELOITTE’S 250 GLOBAL RETAILERS
EMKE GROUP/LULU GROUP INTERNATIONAL, MAJID AL FUTTAIM HOLDING LLC AND SAVOLA GROUP APPEAR ON DELOITTE’S 250 GLOBAL RETAILERS

Published : , on

  • Deloitte Global report finds retailers achieve steady growth despite challenging global economy
  • US$4.3 trillion in revenues generated by top 250 global retailers
  • We are now living in the customer-driven economy

The top 250 global retailers generated aggregated revenues of US$4.31 trillion in fiscal year 2015, representing composite growth of 5.2 percent, according to the Global Powers of Retailing 2017: The art and science of customers report from Deloitte Global.

“Slow economic growth in major developed economies, high levels of debt in emerging countries, deflation or low inflation in rich countries and a protectionist backlash against globalization were among dynamics which contributed to a challenging economic environment for retailers,” explained Dr. Ira Kalish, Deloitte Global Chief Economist. “And yet people still need to shop, so the industry carries on. In some places and with some cohorts of shoppers, the outlook for retailers is favorable.”

“The Middle East remains an attractive destination for retailers, with 3 retailers ranking in Deloitte’s report of the 250 largest retailers around the world: Emke Group/Lulu Group International, Majid Al Futtaim Holding LLC and Savola Group. Together, the Africa/Middle East region’s 19.1 percent growth rate and 5.8 percent net profit margin were the highest among the five geographic regions in FY2015,” explains Herve Ballantyne, partner and Consumer & Industrial Products Industry leader, Deloitte, Middle East.

Global Powers of Retailing Top 250

For the third year in a row, revenue growth for the Top 250 apparel and accessories retailers outperformed other product sectors. Historically, this category of retailers has also been the most profitable, and fiscal year 2015 was no exception. However, retailers of fast-moving consumer goods¹ (FMCG) are, by far, the largest companies (average retail revenue of nearly US$21.6 billion) as well as the most numerous (133 retailers accounting for just over half of all Top 250 companies and two-thirds of Top 250 revenue).

The level of retail globalization appears to be at the same level as the previous year. Two-thirds of Top 250 retailers operated outside their home country borders and on average, they had retail operations in more than 10 countries and derived nearly one-quarter of their composite retail revenue from foreign operations.

The art and science of customers

Global Powers of Retailing 2017 also discusses the art and science of customer engagement to help retailers design fresh experiences, enabled by the right technology, and strengthen customer loyalty. What was once considered futuristic is now table stakes. Retail innovators know technology is no longer supplemental to the shopping experience, it is fundamental. Technology alone, however, is not enough. Customers are seeking new and surprising products and experiences.

The five trends identified in the report are:

  • Less is more. Customers are defining themselves less by how many things they own and more by how curated their lives are in terms of possessions and experiences.
  • “Following” economy. Customers are seeking experiences and products that reflect the personal brand they promote on social media.
  • “Retailization” of the world. The maker movement, the sharing economy, and other factors have made it increasingly difficult to define what a retailer is and does – non-traditional retailers are developing new business models to serve customer needs, such as subscription services and flash-sales.
  • On-demand shopping and fulfillment. Relevancy will be determined by the ability of retailers to meet the on-demand mindset of the modern customer.
  • Exponential living. Exponential technologies, like artificial intelligence, robotics and virtual reality are changing how we live and how we will shop.

To view the whole report go to: http://bit.ly/2kP0oET

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post