, APAC
175 views
Source: Magda Ehlers (Pexels)

Top 25 global retailers post 7.1% revenue growth despite economic woes

GlobalData linked this to the pandemic-driven shift in shopping habits. 

The top 25 retailers across the globe attained a 7.1% year-on-year revenue growth to $3.5t in 2022, GlobalData reported. 

This is linked to the pandemic-driven shift in shopping habits online, the report noted. 

“Home improvement and pharmaceutical retailers experienced notable advantages due to lockdown restrictions in 2022,” 

“Major online retailers such as Amazon, JD.com, and Alibaba gained a compound annual growth rate CAGR of above 20% in revenue during 2018-2022.”

Read more: 60 APAC firms amongst Top 250 Global retailers: Deloitte

The report added that amongst the leading retailers, Alimentation Couche-Tard, Seven & i, Costco, and CVS Health posted double-digit revenue growth. 

Alimentation Couche-Tard in particular, registered a 37.3% revenue growth and 5.1% CAGR between 2018 and 2022. 

Jayamaran noted this is primarily driven by higher road transportation fuel selling prices and the positive impact of foreign exchange rates.

Seven & i recorded a 35% YoY growth in revenue, whilst Costco and CVS Health saw a 15.8% and 10.4% YoY revenue growth in 2022, respectively.

 

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Retail leaders urge swift adaptation to tech disruption
Innovations such as leveraging AI and optimising supply chains were deemed crucial to the future of retail.
E-commerce
Shakey’s Pizza Asia eyes US expansion
The registration is expected to be completed on 27 October.
Stores

Exclusives

Meta is investing big in business messaging
Companies can boost sales by reaching more customers on Messenger, Instagram and WhatsApp.
MINISO opens biggest global store in Jakarta
The Chinese retailer aims to hit 1,000 stores in the next five years from about 300 now.
PUMA targets tech-savvy youngsters on TikTok
The world’s third-biggest activewear maker uses local influencers to connect with its market.