- Feb 21, 2020
- Chinese Consumers
JD.com Ranked Top 1 Retailer in China and 15th in the World
by Tracy Yang
JD.com is ranked as the Top 1 among the 14 Chinese enterprises in the 250 largest retailers around the world, and 15th among the 250, according to Deloitte’s 23rd edition of Global Powers of Retailing just released.
The Deloitte report identifies the 250 largest retailers around the world based on publicly available data for FY2018 (fiscal years ended through 30 June 2019), and analyzes their performance across geographies and product sectors. Of the 14 retailers larger than JD.com, nine are the U.S. firms with Wal-Mart listed as No.1.
Deloitte analyzed retail performance by primary retail product across four product sectors: apparel and accessories; fast-moving consumer goods; hardlines and leisure goods; and diversified. A company is assigned one of the three specific product sectors if at least half of its retail revenue is derived from that product category. The highest annual revenue growth rate in FY2018 was in hardlines and leisure goods. With more than US$68.2 billion in revenue for FY2018, JD.com was one of the biggest revenue contributors.
Retail growth in Asia Pacific continues to be driven by changing shopping preferences among growing middle-class consumers, particularly young millennials and the increasing adoption of e-commerce and m-commerce by the brick-and-mortar retail players. JD.com, China’s largest retailer, is one of the major contributors to total revenue growth for retailers in the region.