A new report from food and grocery analyst IGD has forecast that Walmart, the world's largest retailer, will soon reach half a trillion dollars in sales, while also revealing that Tesco is set to grow its global business ahead of the other major supermarket groups.
The study, which looks ahead to 2015, said that Walmart will stay on top of the retail table for the foreseeable future, with a compound annual growth rate (CAGR) of 4.7 per cent taking global sales to €401.7m and passing US$500m in 2014.
With a CAGR of 7.5 per cent between 2010 and 2015, Tesco is set to be the fastest growing retailer of the global 'big four', driven by sharing best practice in areas such as loyalty and services across markets such as Asia – meaning sales will climb to €106m by 2015.
Elsewhere, IGD noted that Carrefour's new hypermarket format Carrefour Planet, along with strong growth in emerging markets, will support its position at number two in the retail rankings, while German retailer Metro will rely on international operations rather than domestic ones for growth.
'Global retailers that want to achieve the highest growth are those that are building a presence in emerging markets,' said Joanne Denney-Finch, chief executive of IGD. 'Rapid urbanisation and a growing middle class will create big opportunities in countries like Brazil, China, Russia and India.
'With retailer investment plans heavily focused on these emerging markets, food and drink manufacturers will need to keep pace if they want to be part of the growth,' Ms Denney-Finch added. 'Each market is different and nobody should take their eye off the mature and domestic markets which still provide the bulk of sales for the international players.'
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