Tesco is forecast to grow faster than its three main global rivals, driven by a focus on emerging markets, according to research from IGD.
Analysts at IGD have forecast a compound annual growth rate (CAGR) for Tesco of 6.8% between 2011 and 2015, faster than Wal-Mart Stores, Carrefour and Metro Group.
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But while Tesco is set to be the fastest growing of the global top four, Wal-Mart will still be the world’s largest retailer with sales of EUR386.72bn (US$606.7bn) by 2015, IGD noted – nearly triple the value of Carrefour’s forecast sales of EUR133.98bn. Tesco’s turnover is expected to reach EUR98.29bn and Metro’s EUR81.12bn.
“The key to growth for these global retailers will be presence in the right markets at the right time,” said IGD chief executive Joanne Denney-Finch. “The domestic markets remain critical for Carrefour, Metro, Tesco and Walmart, but they are also increasingly relying on emerging markets to sustain strong growth.
“International sales will be driven by a focus on emerging markets, such as China, Latin America, Turkey and Indonesia. The top four global retailers are forecast to achieve double-digit growth in many of these fast developing regions over the next three years.”
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