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Reliance Retail ranked 2nd fastest growing retailer globally

By Retail4Growth Team | May 10, 2021

The Deloitte list of global retailers has Walmart as the world's top retailer followed by Amazon on second position.

According to a new Deloitte report, Reliance Retail Ltd has been ranked second fastest growing retailer in the world in the 2021 ranking of global retail power houses, down from top rank secured the previous years. It has been ranked 53rd in the list of Global Powers of Retailing, improvement from 56th earlier, according to the Deloitte report. Reliance Retail is the only Indian entry in the global list of 250 retailers. It features consecutively for the 4th time in the list of Global Powers of Retailing and World's Fastest Retailers.

The list is topped by US giant Walmart Inc, which retains its position as world's top retailer. Amazon.com Inc improved its position to rank second. Costco Wholesale Corporation of US slipped a rank to be placed third followed by Schwarz Group of Germany.

The top 10 has seven US retailers and one from the UK (Tesco PLC at 10th position). Other US retailers in the top 10 include The Kroger Co (ranked 5th), Walgreens Boots Alliance, Inc (6th) and CVS Health Corporation (ranked 9th). Germany's Aldi Einkauf GmbH & Co. oHG and Aldi International Services GmbH & Co. oHG is placed at 8th position.

"Reliance Retail, last year's Fastest 50 leader, dropped to second place. The company recorded YoY growth of 41.8 per cent, driven primarily by a 13.1 per cent increase in the number of stores in its consumer electronics, fashion and lifestyle and grocery retail chains, to 11,784 stores across 7,000 towns and cities in India at fiscal year end (FY20)," Deoitte said. E-commerce, it said, is a second growth driver, through both digital commerce (B2C) and B2B.

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