Although mostly dominated by the US, the Swiss companies, Migros and Coop continue to rank among the 50 largest retailers in the world.
According to the “Global Powers of Retailing” report, US companies keep the lead among the 250 establishments with a total revenue of 4,530 billion USD in 2017, a growth of 5.7%. Walmart remains the undisputed leader, followed by the Costco Wholesale Company, the Kroger Co and Amazon. Migros recorded a 24.5 billion USD revenue in 2017, ranking 39th. Coop, on the other hand, loses one place and ranks 44th, with a revenue of 22.5 billion USD.
“Despite the Swiss market’s limited growth prospects, it is quite impressive that Migros and Coop keep such high rankings on the global retail market,” explains Konstantin von Radowitz, managing partner of Consumer and Industrial Products at Deloitte Switzerland, the investigative firm.
How come? E-commerce does not seem to have significantly affected the Swiss retail market. In 2018, online sales represented less than 10% of the total retail sales in Switzerland. However, the trend is likely to change in the coming years.