Retailers from developing nations are rising to the fore as the global economy slows, a new report has indicated, with growth their Western counterparts can only dream of.
The report, 2009 Global Powers of Retail from Deloitte Touche Tohmatsu in cooperation with STORES Magazine, points out that of the top 10 retailers with the highest compound annual growth rate two are from Russia, two from China and one from South Korea. Two Chinese retailers feature in the report’s top 100 retailers by size list, but the top 10 is still ruled by Western retail corporations.
Chinese and Indian retailers will still experience growth despite slowing economies in both countries, according to the report.
Retailers were counselled to expand globally in the face of challenging spending levels in their home countries, especially in developing markets which could offer significant growth.
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