Overview of the global retail industry

• The global retail industry is currently in the rapid development stage of e-commerce and new retail models after experiencing the development of traditional models such as department stores, chain stores and supermarkets. E-commerce platforms such as Amazon utilize the borderless nature of the web to break geographical restrictions and provide a convenient shopping experience, while the new retail concept aims to realize the deep integration of online and offline through technological means and provide a seamless shopping experience.

Ranking of Global Retail Companies in 2024

• According to the 2024 data, Walmart is firmly at the top of the list of global retail companies, with annual revenue of about $628.56 billion and a total of about 10,500 stores worldwide. Amazon follows closely behind, showing the importance of digital retailers in the global retail market. Other top-ranked companies include Schwarz Group, Orazi and Open Marketer.

Sustainability and technological innovation

• Sustainability has become an important issue in the global retail industry, with retailers integrating sustainability into their supply chain processes and exploring emerging areas such as retail resale. Meanwhile, technological innovations, such as artificial intelligence, big data and virtual reality, are being widely used in retail to enhance customer experience and operational efficiency.

Growth of the Chinese retail market

• The Chinese market is a major player in global retail and is one of the fastest-growing retail markets in the Asia-Pacific region in FY2021, mainly driven by Alibaba. Jingdong is one of the top 10 fastest growing retailers with 25.1% retail revenue growth.

The Future of Brick-and-Mortar Retail Stores

• As the post-epidemic era approaches, brick-and-mortar retail stores are integrating technology to lure customers back and create immersive shopping experiences. The use of technologies such as virtual and augmented reality, artificial intelligence and data analytics will help retailers personalize recommendations, streamline the checkout process and increase customer engagement.