The last time we checked in on professional services group Deloitte, they were getting ready to move into their new zen offices at the soon to be unveiled The Ridge at the V&A Waterfront.

In the meantime, the company has released its annual Global Powers of Retail report for 2020, which ranks 250 of the biggest retail groups around the world.

The ranking is determined using data that covers the fiscal year from July 2018 through to June 2019.

Perhaps the most interesting thing about the report – apart from where four South African retail groups rank overall – is the return of Steinhoff.

According to BusinessTech, the company has recovered from the accounting fraud scandal that emerged in 2017/2018 which halted its ability to produce full-year results until recently.

Despite making a net loss of over $1.4 billion in FY 2018, Steinhoff’s $15.14 billion in retail sales in the year make it largest retailing group in South Africa by some margin, with Shoprite following with $10.59 billion in retail revenue.

Overall, Steinhoff ranks 64th in the list, followed by Shoprite (100th), the Spar Group (132nd), Pick n Pay (162nd) and Woolworths (205th).

All of South Africa’s retailers dropped down in the rankings this year due to tight trading conditions, and the fact that the average consumer is feeling the pinch in our current economy.

The steadily rising price of groceries makes me want to turn over the trolley and scream every weekend – you know what I’m talking about.

Check out the rankings for local retailers:

Source: BusinessTech

Woolworths may be trailing well behind the likes of Shoprite, but all is not lost.

Five retailers – including The Spar Group, Steinhoff, and Woolworths Holdings – were among the 50 fastest growing Top 250 retailers in FY2018, Deloitte noted.

“Steinhoff and Shoprite were the major revenue contributors in the Middle East/Africa region in FY2018. However, with revenue for Steinhoff falling by more than 25%, and despite 3.6% growth for Shoprite, companies in the region recorded a decline in revenue of 0.4%, as compared to 9.8% growth in FY2017,” Deloitte said.

To check out the biggest retailers across the globe, you can read a summary of the rest of the report here.

Meanwhile, breathe deeply when you get that grocery bill, and throw a tub of ice-cream in that trolley to help with the stress.

[source:businesstech]