2025年全球零售力量：提升效率与释放增长潜力

March, 2025 Contents ForewordbyEvanSheehan03Top 250 quick statistics04Global retail economic outlook06Top 10 highlights08Selectcompanyprofiles10Trend 1: Strategic operational efficiency20Trend 2: AI-driven tech transformation23Trend 3: Sustainability and the circular economy26Trend 4: Alternative revenue streams29Global Powers of Retailing Top 25031Geographicanalysis48Productsectoranalysis55Newentrants61Fastest2063Featured retail executive interviews66Study methodology and data sources79References81Contacts84 Conversations with retail executives Margot JohnsonAritzia Fahed GhanimMajid Al Futtaim Cari CoventCanadian Tire Nelson SamSalesforce Rajesh GargLandmark Group Foreword by Evan Sheehan I am pleased to announce the return of Deloitte Global’s (now biennial) Global Powers ofRetailing report. Drawing on in-depth interviews with leading retail executives and a data-driven analysis of the Top250 global retailers, this report provides a snapshot of a dynamic sector, highlighting some of thetrends in the industry and the strategies employed by business leaders. The past few years have been difficult for retailers due to inflationary pressures, a more fiscallycautious consumer, technological advances, and geopolitical disruptions. This is reflected in the more modest growth trajectory of the Top 250 retail organizationscompared to previous years. Some key themes have emerged about how retailers are positioning themselves for growth in thefuture. Operational efficiency remains paramount, with retailers increasingly turning to advancedtechnologies like artificial intelligence (AI) and automation to help optimize inventory management,streamline supply chains, and enhance profitability. In an established trend, sustainability hastransitioned into a business imperative, driven primarily by regulatory pressures. And the searchfor alternative revenue streams is intensifying, with retail media networks and capability-as-a-service models emerging as potential avenues for profitable growth. In addition to these trends, the saying ‘the customer is king’ still remains a truism in the retailindustry. Analysis of both new entrants and the fastest 20 reveals a noticeable shift towarddiscount retailers as consumers seek out value. While caution among consumers is a familiarchallenge, a new generation of shoppers is also rewriting the rules of engagement, demandingretailers adapt to their evolving behaviors and needs. Looking ahead, retailers should learn tomeet their customers where they are – and forge connections in excitingand innovative ways. I invite you to consider how the insights in this report can helpinform your strategic agenda. I look forward to and welcomeyour feedback. Evan SheehanRetail, Wholesale and DistributionLeader at Deloitte Global Global Powers of Retailing Top 250 Top 250 quick statistics 5-year retail revenue growth(CAGRFY2018-2023, CAGR FY2017-2022 for FY2022) 64.0% Top 250 retailers withforeign operations Top 250 Retailers % of profitable companies(positive net income) US$4.5bilion Minimum retail revenue US$24.1billionAverage retail revenue US$648.1billionMaximum retail revenue Average number of countries wherecompanies haveretail operations Share of Top 250aggregate retail revenuefromforeign operations Global retail economic outlook By Dr. Ira Kalish Chief Global Economist, Deloitte GlobalJanuary 2025 The state of the global economy The global economy has recovered from an episode of very high inflation. Growth currently varies, but no major region is now at risk ofimminent recession. On the other hand, there are risks to the outlook. These include potential restrictive trade policies, an intensification of tensions betweenChina and the West, and investor perception that fiscal policies in major economies may be unsustainable. Let’s look at the key regions: Moreover, labor productivity is not growing in Europe. The lack ofproductivity growth indicates that central banks should be morecautious about easing policy for fear that inflation may not go away.Although inflation is now low in Europe, prices of services continueto rise sharply, in part due to tight labor markets generating bigwage gains. Poor productivity growth stems from insufficientinvestment, and especially low investment in new businesses.There is now much debate about what Europe needs to do torectify this situation. US The US economy has been resilient, despite a very tight monetarypolicy. In 2024, economic growth was likely 2.8 percent whileinflation was likely under 3 percent. With rising real wages, risingemployment, and healthy balance sheets, consumer spendinghas been growing strongly. However, rising delinquencies oncredit card debt will likely curtail spending growth in 2025, therebycausing economic growth to decelerate. Meanwhile, businessinvestment has been strong and will likely remain so. A current unknown for the US economy is the potential policypath of the new administration, inclu