Top 10 global powers of retailing
Chinese retailer JD.com has ranked ninth in the Global Powers of Retailing 2022 list, which took into account data in the 12-month period from July 1, 2020, to June 1, 2021. JD.com is the only entrant from China on the list for the first time ever.
A report published in late February by Deloitte, one of the world's four largest accounting firms, showed JD generated $94,432 million in retail revenue in 2020, up 27.6 percent from the previous period. It was listed among the year's top 10 fastest-growing retailers.
Walmart Inc remained on top of the world's Top 250 global retailers' list. The company registered year-over-year FY2020 retail revenue growth of 6.7 percent.
According to the report, retail revenue growth by the top 10 companies jumped by eight percentage points from the previous year, to 12.4 percent.
Retailers faced some strong economic headwinds against the backdrop of an unpredictable virus resurgence last year. And yet retailers remained resilient and managed to grow in these unprecedented times and were able to respond to consumer expectations.
One of the driving factors for retailers was e-commerce, with consumers still opting to shop from home because of the pandemic, Deloitte said.
Let's see the top 10 retailers in the list.
