Walmart Inc has retained its top spot in market research organization Euromonitor International’s India Retail Rankings for 2020 with rival Amazon taking the second place.
As per Live Mint, the rankings of the Tata group dropped from five in 2019 to number six, while the Aditya Birla Group dropped from number seven in 2019 to number eight in the same period Euromonitor’s annual rankings were based on the value of goods sold by Indian retailers across segments such as grocery, apparel, lifestyle, and pharmacy from January to December 2020. Overall retail sales declined in 2020, the market research organization said, without revealing numbers.
Reliance Group, which runs Reliance Retail with presence across online and offline retailing in multiple categories ranked third, the same as a year ago. Avenue Supermarts, which runs the DMart chain of supermarkets, improved its rankings moving up to the fifth spot from sixth in the previous year. Paytm parent One97 Communications Ltd moved up one spot from its earlier rank.
The India-specific list is part of the ‘Top 100 Retailers in Asia 2021; rankings released by Euromonitor International. The report covered the overall retail industry in the Asia-Pacific including markets such as Indonesia, China, Thailand, Taiwan, Vietnam, and India.
India reported a decline in overall retail sales in 2020 after registering double-digit value growth over the last few years, the research organization said.
After a year of decline in 2020, retailing in India is set to report an “immediate strong rebound" to growth in current value terms in 2021, said analysts at Euromonitor. This, they said, will be driven by expansion led by large format stores and investments in e-commerce.