TAIPEI (Taiwan News) — The owners of Taiwan’s 7-Eleven stores and supermarket chain PX Mart have made it onto a list of the world's top 250 retailers, according to Deloitte's Global Powers of Retailing 2021 report, which provides an economic outlook and spotlights the 50 fastest-growing retailers.
President Chain Store Corp., which owns the country's 7-Elevens, raked in US$7.55 billion in revenue during the 2019 fiscal year, which ended in June 2020. It claimed 142nd place and has been on the list for seven years in a row. Operated by Chuan Lien Enterprise Co., PX Mart emerged as the 247th largest retailer and a new contender in the rankings, with US$4.07 billion in revenue.
7-Eleven has made efforts to optimize its mobile app, as membership in its loyalty program has doubled over the past 15 months. Meanwhile, PX Mart owes its stellar performance to its focus on fresh produce, increased presence, and promotion of mobile payment, UDN quoted Deloitte consumer leader Steven Hsieh (謝明忠) as saying.
The top three industry players are Walmart, Amazon, and Costco, all based in the U.S. Europe has 87 companies on the list, the most of any region, while North American retailers accounted for nearly half of the top 250's total revenue in FY2019.
Global retail growth is largely driven by e-commerce and discounters. Nine out of 12 new entrants are from the Asia Pacific, as the region is growing into a retail hotspot, the report suggests.
The survey is now in its 24th edition.