Tuesday, June 18, 2024

Asia Pacific leads in digital commerce

Euromonitor International and Retail Asia have released the 13th Retail Asia Top 500 Retailers Ranking.

In 2015, US$964 billion ($1.3 trillion) in sales were recorded by the regions top 500 retailers, which represented a five per cent decline in current value terms due to the strong US dollar.

Chinese companies dominated the rankings, accounting for one-third of the firms on the list. Mobile retailing sales reached US$200 billion ($269 billion), representing a 113 per cent increase over the period.

Asia became the leader in online and mobile commerce in 2013 – mobile retailing in the region is two-and-a-half times larger than that of North America, which is the second largest market for mobile retailing,Euromonitor International Head of Retailing Michelle Grant said. It’s likely that more and more innovation in digital commerce will come from Asia Pacific.

The Retail Asia Top 500 ranking, based on Euromonitor Internationals retailing data, ranks the top retailers from 14 key economies across Asia Pacific in terms of total sales, number of outlets, sales area and sales per square metre. The top ranked retailer in Asia Pacific was 7-Eleven Japan, which recorded sales of US$35 billion ($47.1 billion) over the year.

Retailing in Australia experienced positive growth in 2015 as a result of the wealth effect,” Euromonitor Research Analyst – Services and Payments Julia Illera said. “A strong housing market supported by low interest rates and household credit growth encouraged consumers to spend as the perceived value of their assets increased. Although retailing in Australia is expected to continue to record positive growth, the countrys economic outlook is not expected to be so positive. Thus, only modest growth is predicted for retailing in Australia over the forecast period.

The top Australian retailers in the rankings were:

3. Woolworths/Thomas Dux US$25.7 billion ($34.6 billion) in sales.

4. Coles/Bi-Lo US$24.7billion ($33.2 billion) in sales.

18. IGA US$8.3 billion ($11.1 billion) in sales.

29. Woolworths Liquor Division US$6.2 billion ($8.3 billion) in sales.

31. Kmart/Target US$6.1 billion ($8.2 billion) in sales.

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