Costco Retail History

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1.3 HISTORY, GROWTH OF RETAIL INDUSTRY & GLOBAL RETAIL SCENARIO: Global Retail Scenario It is no secret that Retail has a huge role to play in the global economy. That’s why it is not surprising that in developed countries retailing is one of the most important industries. In developed economies, modern retail or organized retail has a 75-80% share in total retail as compared with developing economies. Table: 1.1 Top 10 global retailers by revenue Retail Revenue Rank Name of the company Country of origin 2012 retail revenue (US $ mn) 2012 parent company/ group revenue (US $ mn) 2012 parent company/ group net income (US $ mn) No. of countries of operation 2007-2012 Retail revenue CAGR 01 Wal-Mart store U.S. 469,162 469,162 17,756 28 4.4 % 02 Tesco U.K. 101,269 102,889 190 13 6.2% 03 Costco Wholesale Corporation U.S. 99,137 99,137 1767 9 9.0% 04…show more content…
• The world’s population is poised to expand 50% by 2050. The world is currently 78% poor, 11% middle income and 11% rich. • Some two-thirds or $6.6 trillion out of the $10 trillion American economy is consumer spending. About 40% of that ($3 trillion) is spending on discretionary products and services. • Retail trade in Europe employs 15% of the European workforce (3 million firms and 13 million workers) • Time and quality of life are becoming relatively more important than money; 60% of Americans want to simplify their lives. • In U.S Product performance was found to be the top purchasing criterion, while environmental features were a close second in a survey.13 1.4 RETAIL GIANTS IN THE
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