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VENTURES AFRICA – South African retailers have dominated the African retail space in recent years, and Deloitte’s 2014 Global Powers of Retailing report confirmed such assertion, with 5 companies listed amongst the global top 250.
Shoprite Holdings, SA-based supermarket chain with operations in over 16 countries, leads Africa at 94th position, dropping one place on the list from 2013. Furniture and household manufacturer Steinhoff International Holdings jumped 8 places better to end at 125, while Pick ‘n’ Pay Stores dropped 2 places to stand at 137. Other African retailers included on the list were The Spar Group and Woolworths.
South African companies also contributed to the $4.29 trillion aggregate retail revenue of the top 250.
“Despite difficult economic conditions throughout 2012, the world’s leading retailers begin to grow, building on the rebound that began in 2010,” Deloitte’s report explained.
Each of these retailers averaged at least $17 billion in asset size to make the Top 250 list.
The report noted that the economic outlook of emerging markets that have not accumulated debts looks good, citing Mexico, Colombia, Turkey, Philippines, and sub-Saharan Africa, “who enjoy improved governance, competitive industries and favourable demographics and should experience strong growth in the coming decade”.
Africa and the Middle East thus led the pack in percentage sales growth and profitability by region for 2007 to 2012.
Steinhoff International Holdings came 3rd on the list of 50 fastest growing retailers of 2007-2012 with 36.3 percent Compound Annual Growth Ratio (CAGR), the SPAR Group was 32nd with CAGR of 14.7 percent. Shoprite Holdings was 34th with 14.2 percent, while Woolworths was 46th with 11.9 percent.
Leading American retailer, Wal-Mart Stores led the Top 250 Retailers list with annual retail revenue of $ 4.6 billion, closely followed by UK’s Tesco PLC with $1.1 billion.