2025年全球零售力量报告

GlobalPowersofRetailing2025:Improvingeffectivenessandunlockinggrowthintheyearahead March,2025 MargotJohnson Aritzia CariCovent CanadianTire FahedGhanim MajidAlFuttaim RajeshGarg LandmarkGroup NelsonSam Salesforce 02 GlobalPowersofRetailing2025|Contents Contents ForewordbyEvanSheehanTop250quickstatistics Globalretaileconomicoutlook Top10highlights Selectcompanyprofiles 03 04 06 08 10 Trend1:Strategicoperationalefficiency20 Trend2:AI-driventechtransformation23 Trend3:Sustainabilityandthecirculareconomy26 Trend4:Alternativerevenuestreams29 GlobalPowersofRetailingTop25031 Geographicanalysis48 Productsectoranalysis55 Newentrants61 Fastest2063 Featuredretailexecutiveinterviews66 Studymethodologyanddatasources79 References81 Contacts84 Conversationswithretailexecutives GlobalPowersofRetailing2025|ForewordbyEvanSheehan ForewordbyEvanSheehan IampleasedtoannouncethereturnofDeloitteGlobal’s(nowbiennial)GlobalPowersofRetailingreport. Drawingonin-depthinterviewswithleadingretailexecutivesandadata-drivenanalysisoftheTop250globalretailers,thisreportprovidesasnapshotofadynamicsector,highlightingsomeofthetrendsintheindustryandthestrategiesemployedbybusinessleaders. Thepastfewyearshavebeendifficultforretailersduetoinflationarypressures,amorefiscally cautiousconsumer,technologicaladvances,andgeopoliticaldisruptions. ThisisreflectedinthemoremodestgrowthtrajectoryoftheTop250retailorganizations comparedtopreviousyears. Somekeythemeshaveemergedabouthowretailersarepositioningthemselvesforgrowthinthefuture.Operationalefficiencyremainsparamount,withretailersincreasinglyturningtoadvancedtechnologieslikeartificialintelligence(AI)andautomationtohelpoptimizeinventorymanagement,streamlinesupplychains,andenhanceprofitability.Inanestablishedtrend,sustainabilityhastransitionedintoabusinessimperative,drivenprimarilybyregulatorypressures.Andthesearchforalternativerevenuestreamsisintensifying,withretailmedianetworksandcapability-as-a-servicemodelsemergingaspotentialavenuesforprofitablegrowth. Inadditiontothesetrends,thesaying‘thecustomerisking’stillremainsatruismintheretailindustry.Analysisofbothnewentrantsandthefastest20revealsanoticeableshifttowarddiscountretailersasconsumersseekoutvalue.Whilecautionamongconsumersisafamiliarchallenge,anewgenerationofshoppersisalsorewritingtherulesofengagement,demandingretailersadapttotheirevolvingbehaviorsandneeds.Lookingahead,retailersshouldlearntomeettheircustomerswheretheyare–andforgeconnectionsinexciting andinnovativeways. Iinviteyoutoconsiderhowtheinsightsinthisreportcanhelpinformyourstrategicagenda.Ilookforwardtoandwelcomeyourfeedback. EvanSheehanRetail,WholesaleandDistributionLeaderatDeloitteGlobal GlobalPowersofRetailingTop250 Top250quickstatistics US$6.03T US$5.82T 8.3% 3.6% FY2023FY2022 3.7% 3.1% Aggregateretailrevenueof Top250 Compositeyear-over-yearretail revenuegrowth Compositenetprofit margin 6.2% 6.3% 5-yearretailrevenuegrowth(CAGRFY2018-2023,CAGRFY2017-2022forFY2022) DiversifiedSectorshowedfastest year-on-yeargrowth 8.3% 7.9% 6.7% 5.6% Diversified ApparelandHardlinesandaccessoriesleisuregoods FMCG 64.0% 64.0% Top250retailerswithforeignoperations 2423 Top250Retailers US$4.5bilion Minimumretailrevenue US$24.1billion Averageretailrevenue FY2023FY2022 %ofprofitablecompanies (positivenetincome) #ofcompaniesretailrevenue >US$50billion 12.8 12.6 US$648.1billion Maximumretailrevenue Averagenumberofcountrieswherecompanieshaveretailoperations 25.4% 24.4% 5.2% 4.4% ShareofTop250aggregateretailrevenuefromforeignoperations Compositereturnonassets 04 'Diversified'sectorshowedthehighestfive-yearCAGRgrowth Top250 Diversified Appareland accessories Hardlinesand leisuregoods Fast-movingconsumergoods (FMCG) FY2018-2023retailrevenueCAGR 6.2% 8.3% 7.9% 6.7% 5.6% Thestateoftheglobaleconomy Theglobaleconomyhasrecoveredfromanepisodeofveryhighinflation.Growthcurrentlyvaries,butnomajorregionisnowatriskofimminentrecession. Ontheotherhand,thereareriskstotheoutlook.Theseincludepotentialrestrictivetradepolicies,anintensificationoftensionsbetweenChinaandtheWest,andinvestorperceptionthatfiscalpoliciesinmajoreconomiesmaybeunsustainable.Let’slookatthekeyregions: Globalretaileconomicoutlook ByDr.IraKalish ChiefGlobalEconomist,DeloitteGlobal January2025 US TheUSeconomyhasbeenresilient,despiteaverytightmonetarypolicy.In2024,economicgrowthwaslikely2.8percentwhileinflationwaslikelyunder3percent.Withrisingrealwages,risingemployment,andhealthybalancesheets,consumerspendinghasbeengrowingstrongly.However,risingdelinquenciesoncreditcarddebtwilllikelycurtailspendinggrowthin2025,therebycausingeconomicgrowthtodecelerate.Meanwhile,businessinvestmenthasbeenstrongandwilllikelyremainso. AcurrentunknownfortheUSeconomyisthepotentialpolicypathofthenewadministration,includingthescaleandscopeofproposedtaxcuts,tariffs,deregulation,andimmigrationpolicy.Itseemsinvestorshavealreadystartedtoreacttothismixwithequityprices,bondyieldsandthedollarrising.Thepotential longertermimpactsoftheproposedpoliciesondemand,inflation,consumers