Euromonitor study pegs Walmart as India’s top retailer
Strategic market research firm Euromonitor’s latest study on retailers in Asia has named Walmart as India’s top retailer due to the US-business’ ownership of the multi-brand e-commerce portal Flipkart.
Walmart is named as the top retailer in India in Euromonitor’s report “Top 100 Retailers in Asia”. In the study, Walmart is ranked for the performance of Flipkart, which it required last year, and not its business-to-business wholesale activities in India as the study looked at only business-to-customer retail.
After Walmart, Amazon is ranked second followed by Future Group in third, Reliance Retail in fourth, and Tata Group in fifth. The research, carried out by Euromonitor in July 2019, used data from the business’ 2018 calendar year performances. For the list of the top 100 retailers in the whole Asian region, Alibaba was ranked first.
The report also found that India’s metros are seeing “urban households” adopt more “modern lifestyles” and shopping at large branded retail outlets. “This behavioural change is impacting retailing in the country,” read the report. “Due to households’ hectic lifestyles and the busy schedules of working adults, most consumers in urban areas prefer to make their monthly purchases from modern grocery retailers instead of traditional grocery retailers.”
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