Walmart, the number 1 retailer in India
A study titled ‘Top 100 Retailers in Asia,’ has ranked Walmart as the top retail company in India. This has been on account of the American company’s acquisition of Flipkart in 2018 for US$ 16 billion. Amazon (#2), Future Group (#4) and Reliance Retail (#5) also featured on the Indian list. The report noted the adoption of modern lifestyles in metropolitan cities like Bangalore, Mumbai, Pune, Delhi and Hyderabad. “This behavioural change is impacting retailing in the country. Due to households’ hectic lifestyles and the busy schedules of working adults, most consumers in urban areas prefer to make their monthly purchases from modern grocery retailers instead of traditional grocery retailers,” the report stated.
On a broader level, Alibaba reigned supreme in the overall ranking of 100 top retailers in Asia, while India’s Future Group secured the 78th position and Reliance stood at 86th on the Asia-wide ranking