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Deloitte Global Powers of Retailing 2015

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Deloitte on listannut jälleen maailman 250 suurinta vähittäiskaupan toimijaa ja Suomesta listalle ovat yltäneet S-ryhmä ja Kesko. S-ryhmä on noussut sijalle 71 viime vuoden 78. sijalta ja kasvattanut eroaan Keskoon, joka putosi sijalta 112 sijalle 121. Listaus perustuu tillikauden 2013 liikevaihtoihin.

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Deloitte Global Powers of Retailing 2015

  1. 1. Global Powers of Retailing 2015 January 2015 Embracing innovation © 2015 Deloitte & Touche Oy, Group of Companies 1
  2. 2. 2© 2015 Deloitte & Touche Oy, Group of Companies Global Economic Outlook 4 Retail trends 2015 9 Global Powers of Retailing 16 • Top 10 retailers 17 • Geographic analysis 18 • Product sector analysis 24 • Top 10 fastest-growing retailers 29 • Top 10 e-retailers 30 • Newcomers 33 • Q ratio 34 • Local contact 37 Contents
  3. 3. Global Economic Outlook © 2015 Deloitte & Touche Oy, Group of Companies 3
  4. 4. Changing demographics Big global issues • Slower labor force growth • More retirees • Slower economic growth • More pressure on governments • Especially onerous in China, Russia © 2015 Deloitte & Touche Oy, Group of Companies 4
  5. 5. Rise of global middle class Big global issues © 2015 Deloitte & Touche Oy, Group of Companies 5 0 5 10 15 20 25 USA Japan China India Germany 0 5 10 15 20 25 USA Japan China India Germany 0 5 10 15 20 25 USA Japan China India Germany Share of global middle class spending by country 2009 2020 2030
  6. 6. Information technology Big global issues • Revolutions by industry: Revolutionary impact: • Books - Lower prices of everything • Music - Eliminate mid-level jobs • Travel - Increase demand for highly skilled • Banking - Exacerbate income inequality • Entertainment - Reduce need for stores/offices • Retailing - Less driving, less energy © 2015 Deloitte & Touche Oy, Group of Companies 6
  7. 7. Chinese slowdown Big global issues • Chinese investment slows • Weak commodity prices • Negative impact on: − Africa − Australia − Brazil − Indonesia © 2015 Deloitte & Touche Oy, Group of Companies 7 6% 13% 16% 18% 27% 30% 31% 37% 44% 45% 45% 48% 0% 10% 20% 30% 40% 50% Natural Gas Crude Oil Wheat Meat Corn Soybeans Rice Sea Food Coal Aluminium Copper Cotton In % China’s share in global commodity markets Source: ABN AMRO 7.6% 1999 10.1% 2004 14.2% 2007 10.4% 2010 7.5% 2014f 7.3% 2015f 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014f 2015f In% China - GDP Growth YoY % change China share of commodity markets China – GDP growth
  8. 8. European Economy • Low growth, near deflation − Very weak investment − High unemployment − Spillover impact from Russia and China − Declining oil prices threaten deflation − Declining oil prices will help consumer demand © 2015 Deloitte & Touche Oy, Group of Companies 8 Source: Federal Reserve
  9. 9. Retail trends 2015 © 2015 Deloitte & Touche Oy, Group of Companies 9
  10. 10. Driving growth by catering to high-spending travelers Travel retailing © 2015 Deloitte & Touche Oy, Group of Companies 10 International tourism Increase in travelers who are willing to shop while on the move Travel promotes spending Lengthy waits, and an atmosphere of indulgence, lead to leisurely shopping at airports Better abroad Consumers often wait to shop where the selection is better and there are no high import taxes Building brand awareness Companies promote their brand to travelers even in countries where their goods are not available Airports as labs Airports have become data sources, and also display and engagement laboratories
  11. 11. Quickly becoming a major retail platform Mobile retailing © 2015 Deloitte & Touche Oy, Group of Companies 11 Aggressive growth Mobile retailing continues to grow and is becoming the norm Wearables Will open new opportunities for sales and engagement Mobile payments Mobile payments will play an increasingly important role Mobile experience Retailers need to provide convenient, mobile-friendly customer experiences Privacy and security Retailers must ensure privacy and security
  12. 12. Retailers who move first and fastest gain the edge Faster retailing © 2015 Deloitte & Touche Oy, Group of Companies 12 Adding speed everywhere • Faster to market • Faster to respond • Faster to deliver Millennials in charge • Millennials prefer immediate gratification • And they have the spending power to drive the need for speed Shrinking delivery window • Delivery window is becoming more narrow and specific • Retailers are racing to offer same-day delivery • Efficient end-to-end supply chain more important than ever Instant information • Consumers expect immediate and relevant information • Retailers must optimize information by balancing content and load time
  13. 13. Making the process of shopping part of the total value Experience retailing © 2015 Deloitte & Touche Oy, Group of Companies 13 Retail as environment • Adding entertainment, education, emotion, and engagement to the act of shopping Anytime, anywhere • Consumers want to order, pick up, ship, receive, and return at their convenience Integrated platforms • Consistent experience across all channels, from mobile to bricks & mortar • Retailers will update operations, remove silos, and improve cross-function collaboration Personalization • Requires gathering and analysis of big data • Transparency around the collection and use of data is needed to retain trust of customers
  14. 14. The near future is about adaptation and embracing change Innovative retailing © 2015 Deloitte & Touche Oy, Group of Companies 14 The rise of disruption • Innovation and consumer demands will both escalate, swiftly No magic answer • No single formula for success • We’ll see all shapes, sizes, formats, and channels Joining the bandwagon • Expect more retailers to become innovators • Many will start connecting strategy, capabilities, initiatives, and data Innovation everywhere • Not only products & services but also business models and customer engagement Talent matters • Retailers need the right innovation talent • Not only on staff, but in partnerships and access to specialists
  15. 15. How retailers are keeping up with the dazzling speed of change “Embracing innovation” © 2015 Deloitte & Touche Oy, Group of Companies 15 Experimenting • Retailers are testing, adopting, then moving on to the next technology Leveraging • Using innovation and big data analysis to gain a market advantage Rethinking • Considering the business model, and adjusting every aspect of their operations Executing • Integrating marketing, products, and services across every possible channel Responding • Engaging 24/7 with consumers who are 24/7 and have high expectations
  16. 16. Global Powers of Retailing Highlights from the 2015 edition of the report © 2015 Deloitte & Touche Oy, Group of Companies 16
  17. 17. 2013 a challenging year as global economy decelerates Top 10 retailers worldwide © 2015 Deloitte & Touche Oy, Group of Companies 1 Wal-mart Stores Inc., U.S. 476,294mn 3.3%$ 2 Costco Wholesale Corporation, U.S. 105,156mn 7.7%$ 3 Carrefour S.A., France 98,688mn (3.0)%$ 4 Schwarz Unternehmens Treuhand KG, Germany 98,662mne 6.5%$ 5 Tesco PLC, UK 98,631mn 2.9%$ 6 The Kroger Co., U.S. 98,375mn 5.3%$ 7 Metro AG*, Germany 86,393mne (0.9)%$ 8 Aldi Einkauf GmbH & Co. oHG, Germany 81,090mne 5.5%$ 9 The Home Depot, Inc., U.S. 78,812mn 2.0%$ 10 Target Corporation, U.S 72,596mn 2.9%$ $: 2013 revenue in USD millions 2008-13 Retail Revenue CAGR e: Estimate *Metro changed its fiscal year from end of Dec. to end of Sep. Fiscal 2013 results reported here include the 9 months ended 20 Sep 2013, plus the quarter ended 31 Dec 2013 to create a 12-month period. 42
  18. 18. Percentage share of Top 250 revenue by region and by top countries Top 250 geographical revenue © 2015 Deloitte & Touche Oy, Group of Companies 18 44.2% North America 1.8%Latin America 38.9% Europe 14.0% Asia Pacific 1.0% Africa/ Middle East United States 41.9% Canada 2.3% France 9.4% Germany 10.6% United Kingdom 6.2% Japan 7.0%
  19. 19. European retailers are the most globally active of the Top 250 Top 10 European retailers © 2015 Deloitte & Touche Oy, Group of Companies 19 1 Carrefour SA, France 98,688mn (2.4%) 3$ 2 Schwarz Unternehmens Treuhand KG, Germany 98,662mne 9.5% 4$ 3 Tesco PLC, UK 98,631mn (2.0%) 5$ 4 Metro AG*, Germany 86,393mne (2.5%) 7$ 6 Casino Gulchard-Perrachon S.A., France 63,468mn** 15.1% 13$ 7 Groupe Auchan SA, France 62,444mn 2.4% 14$ 8 Edeka Zentrale AG $ Co. KG, Germany 59,704mn** 3.3% 16$ 9 Rewe Combine, Germany 51,109mn** 1.0% 21$ 5 $Aldi Einkauf GmbH $ Co. oHG, Germany 81,090mne 4.7% 8 10 Centres Distributeurs E. Leclerc, France 47,671mne** 4.1% 23$ $: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth *Metro changed its fiscal year from end of Dec. to end of Sep. Fiscal 2013 results reported here include the 9 months ended 20 Sep 2013, plus the quarter ended 31 Dec 2013 to create a 12-month period.
  20. 20. N. American retailers lead in revenue but saw growth fall to 4-year low Top 10 North American retailers © 2015 Deloitte & Touche Oy, Group of Companies 20 1 Wal-mart Stores Inc., U.S. 476,294mn 1.5% 1$ 2 Costco Wholesale Corporation, U.S. 105,156mn 6.1% 2$ 3 The Kroger Co., U.S. 98,375mn 1.7% 6$ 4 The Home Depot, U.S. 78,812mn 5.4% 9$ 6 Walgreen, U.S. 72,217mn 0.8% 11$ 7 CVS Caremark Corporation, U.S. 65,618mn 3.1% 12$ 8 Amazon.com, Inc., U.S. 60,903mn 17.7% 15$ 9 Lowe’s Companies, U.S. 53,417mn 5.7% 20$ 5 $Target Corporation, U.S. 72,596mn 0.9% 10 10 Best Buy Co. Inc., U.S. 42,210mn (14.5)% 25$ $: 2013 Retail Revenue in USD millions Top 250 ranking 2013 Retail Revenue growth
  21. 21. Acquisitions playing a significant role in Asia Pacific growth Top 10 Asia Pacific retailers © 2015 Deloitte & Touche Oy, Group of Companies 21 1 Aeon Co. Ltd., Japan 57,986mn** 11.9% 17$ 2 Woolworth’s, Australia 54,457mn 3.9% 18$ 3 Seven & I Holdings Co. Ltd., Japan 54,258mn** 13.3% 19$ 4 Wesfarmers, Australia 50,711mn 4.6% 22$ 6 A.S. Watson Group, Hong Kong SAR 19,230mn** 0.4% 51$ 7 Yamada Denki, Japan 18,921mn** 11.3% 53$ 8 Suning Commerce Group, China 16,616mn 4.6% 59$ 9 Gome Home Appliance Group, China 13,441mne 9.6% 69$ 5 $Lotte Shopping, S. Korea 24,601mn 13.4% 40 10 Isetan Mitsukoshi Holdings, Japan 12,856mn 6.7% 74$ $: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  22. 22. Seven of the Top 10 saw a double-digit increase in top-line sales Top 10 Latin American retailers © 2015 Deloitte & Touche Oy, Group of Companies 22 1 Cencosud, Chile 19,855mn 13.1% 47$ 2 S.A.C.I. Falabella, Chile 11,377mn 13.0% 88$ 3 Organización Soriana, S.A.B. de C.V., Mexico 8,240mn** 0.4% 127$ 4 FEMSA Comercio, S.A. de C.V., Mexico 7,655mn 12.9% 134$ 6 Lojas Americanas S.A., Brazil 6,247mn 18.2% 150$ 7 Grupo Comercial Chedraui, S.A.B. de C.V., Mexico 5,157mn 3.8% 176$ 8 El Puerto de Liverpool, Mexico 5,156mn 11.8% 177$ 9 SMU S.A., Chile 3,823mn** (9.6%) 241$ 5 $Coppel S.A. de C.V., Mexico 6,304mn 17.0% 149 10 Magazine Luiza S.A., Brazil 3,758mn 14.5% 247$ $: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  23. 23. Currently boasts the highest composite retail growth of any region Top Africa/Middle East retailers © 2015 Deloitte & Touche Oy, Group of Companies 23 1 Shoprite Holdings Ltd., South Africa 9,869mn** 10.2% 107$ 2 Steinhoff International Holdings Ltd., South Africa 8,217mn 21.6% 128$ 3 Pick n Pay Stores Limited, South Africa 6,351mn 6.5% 148$ 4 BİM Birleşik Mağazalar A.Ş., Turkey 6,242mn 19.6% 151$ 6 Emke Group/Lulu Group International, UAE 5,000mn 9.6% 183$ 7 Woolworths Holdings Limited, South Africa 3,834mn 12.7% 239$ $ 5 $The SPAR Group Limited, South Africa 5,175mn 9.7% 174 $: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  24. 24. Percentage share of Top 250 revenue by sector Top 250 sector revenue breakdown © 2015 Deloitte & Touche Oy, Group of Companies 24 9.2% Apparel & accessories 67.5% Fast-moving consumer goods 15.1% Hardlines & leisure goods 8.2% Diversified 
  25. 25. This sector accounts for over half of the Top 250 Top 10 fast-moving consumer goods retailers © 2015 Deloitte & Touche Oy, Group of Companies 25 1 Wal-mart Stores Inc., U.S. 476,294mn 1.5% 1$ 2 Costco, U.S. 105,156mn 6.1% 2$ 3 Carrefour SA, France 98,688mn (2.4%) 3$ 4 Schwarz, Germany 98,662mne 9.5% 4$ 6 The Kroger Co., U.S. 98,375mn 1.7% 6$ 7 Aldi, Germany 81,090mne 4.7% 8$ 8 Walgreen, U.S. 72,217mn 0.8% 11$ 9 CVS Caremark, U.S. 65,618mn 3.1% 12$ 5 $Tesco PLC, UK 98,631mn (2.0%) 5 10 Casino, France 63,468mn** 15.1% 13$ $: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  26. 26. This high-margin sector was the fastest growing product group Top 10 apparel & accessories retailers © 2015 Deloitte & Touche Oy, Group of Companies 1 Macy’s Inc., U.S . 27,931mn** 0.9% 34$ 2 The TJX Companies, Inc., U.S. 27,423mn 6.0% 36$ 3 LVMH Moet Hennessy-Louis Vuitton S.A., France 24,392mne 3.7% 41$ 4 Inditex, S.A., Spain 22,265mn** 4.9% 44$ 6 Kohl’s Corporation, U.S. 19,031mn (1.3%) 52$ 7 The Gap, Inc., U.S. 16,148mn 3.2% 61$ 8 Isetan Mitsukoshi Holdings, Japan 12,856mn 6.7% 74$ 9 Fast Retailing Co., Ltd., Japan 12,639mn** 23.2% 76$ 5 $H&M Hennes & Mauritz AB, Sweden 19,729mn 6.4% 49 10 Nordstrom Inc., U.S. 12,166mn 3.4% 80$ 26$: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  27. 27. International expansion is an important growth strategy Top 10 hardlines & leisure goods retailers © 2015 Deloitte & Touche Oy, Group of Companies 27 1 The Home Depot, U.S. 78,812mn 5.4% 9$ 2 Amazon.com, U.S. 60,903mn 17.7% 15$ 3 Lowe’s Companies, U.S. 53,417mn 5.7% 20$ 4 Best Buy, U.S. 42,210mn (14.5)% 25$ 6 Apple Inc./Apple Retail Stores, U.S. 20,228mn 7.4% 46$ 7 Yamada Denki, Japan 18,921mn** 11.3% 53$ 8 Groupe Adeo SA, France 18,197mne** 5.3% 54$ 9 Kingfisher plc, United Kingdom 17,454mn 5.2% 57$ 5 $The IKEA Group, The Netherlands 36,495mn 3.3% 28 10 Suning Commerce Group Co., Ltd., China 16,616mn 4.6% 59$ 27$: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  28. 28. Entrance of top Finnish retailer Kesko Top 10 diversified retailers © 2015 Deloitte & Touche Oy, Group of Companies 28 1 Metro AG, Germany* 86,393mne (2.5%) 7$ 2 Target Corporation, U.S. 72,596mn 0.9% 10$ 3 Sears Holding Corp., U.S. 36,188mn (9.2%) 20$ 4 Lotte Shopping, S. Korea 24,601mn 13.4% 40$ 6 El Corte Ingles, S.A., Spain 14,789mn (2.4%) 66$ 7 Otto (GmBH & Co. KG), Germany 13,355mn (0.4%) 70$ 8 S.A.C.I. Falabella, Chile 11,377mn 13.0% 88$ 9 Liberty Interactive Corporation, U.S. 10,307mn 2.9% 99$ 5 $Marks and Spencer Group plc, UK 16,391mn 2.8% 60 10 Kesko Corporation, Finland 8,776mne** (7.2%) 121$ *Metro changed its fiscal year from end of Dec. to end of Sep. Fiscal 2013 results reported here include the 9 months ended 20 Sep 2013, plus the quarter ended 31 Dec 2013 to create a 12-month period. 28$: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  29. 29. China retailers surge Top 10 fastest-growing retailers 2008-13 © 2015 Deloitte & Touche Oy, Group of Companies 29 1 JD.com, Inc., China 10,827mn 66.2.% 92$ 2 Yonghui Superstores Co., Ltd., China 4,733mn 23.4% 189$ 3 Albertson’s LLC, U.S. 23,000mn 489.7% 43$ 4 Jumbo Groep Holding B.V., The Netherlands 9,420mne 1.9% 111$ 6 Chow Tai Fook Jewellery Group Ltd., Hong Kong 9,979mn** 34.8% 104$ 7 Southeastern Grocers, LLC, U.S. 10,126mne 19.2% 102$ 8 Steinhoff International Holdings Ltd., S. Africa 8,217mn 21.6% 128$ 9 OJSC Dixy Group, Russia 5,628mn 22.8% 166$ 5 $Chongqing Department Store Co., Ltd., China 4,733mn 7.1% 188 10 SMU, S.A., Chile 3.823mn** (9.2%) 241$ 29$: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  30. 30. Pure-play e-retailers command top two slots Top 10 e-retailers © 2015 Deloitte & Touche Oy, Group of Companies 30 1 Amazon.com, U.S. 60,903mn 17.7% 15$ 2 JD.com, Inc., China 10,826mn 66.2% 92$ 3 Wal-mart Stores Inc., U.S. 10,000mne 29.9% 1$ 4 Apple Inc., U.S. 9,000mne n/a 46$ 6 Tesco PLC, UK 5,250mne 11.0% 5$ 7 Liberty Interactive Corporation, U.S. 4,884mn 10.9% 99$ 8 Casino, France 3,952mn 19.4% 13$ 9 Suning Commerce Group Co., Ltd., China 3,536mn 43.9% 59$ 5 $Otto (GmBH & Co. KG), Germany 8,188mne 7.0% 70 10 Macy’s Inc., U.S . 3,100mne 37.8% 34$ 30$: 2013 Retail Revenue in USD millions Top 250 ranking e: Estimate **: Revenue includes wholesale and retail2013 Retail Revenue growth
  31. 31. Top 250 with e-commerce site grows to 80% from 75% E-commerce activity among the Top 250 © 2015 Deloitte & Touche Oy, Group of Companies 31 # companies with e-commerce sales E-commerce as share of retail revenue* E-commerce year over year sales growth* Top 250 145 6.2% 21.1% Excluding Amazon.com and JD.com** 143 4.2% 20.1% Asia/Pacific 28 4.7% 42.5% Excluding JD.com** 27 2.4% 23.8% Europe 57 3.6% 16.0% Latin America 8 7.1% 27.3% North America 51 8.9% 20.0% Excluding Amazon.com** 50 5.1% 21.8% Apparel & Accessories 35 7.0% 21.0% Fast-moving Consumer Goods 61 1.9% 21.6% Hardlines/Leisure Goods 37 20.8% 22.4% Excluding Amazon.com and JD.com** 35 9.5% 21.4% Diversified 12 7.8% 14.2% Africa/Middle East region excluded as e-commerce sales available for only one retailer * Sales-weighted composites ** Amazon.com and JD.com are the only two online-only retailers in the Top 250
  32. 32. About the Top 50 e-retailers © 2015 Deloitte & Touche Oy, Group of Companies 32 25 United States 19 Europe 5 Emerging Markets China 4; Brazil 1 Where are the biggest e-retailers located? 39 Of the Top 50 e- retailers also have bricks & mortar stores 26.6% Average growth rate for E-50 retailers 2 Of the web-only Top 50 e-retailers are also in the Top 250 74% Of the Top 50 e- retailers are also in the Top 250
  33. 33. 17 retailers appear in the Top 250 for the first time Newcomers to the Top 250 © 2015 Deloitte & Touche Oy, Group of Companies 33 e: Estimate Top 250 rank Name of the company Dominant format 2013 revenue growth 104 Chow Tai Fook Jewellery Group Limited, Hong Kong SAR Other specialty 9,979.3** 182 Foodstuffs North Island Ltd., New Zealand Hypermarket/Supercenter/Superstore 5,021.2e** 189 Yonghui Superstores Co., Ltd., China Hypermarket/Supercenter/Superstore 4,733.1 190 Ascena Retail Group, Inc., U.S. Apparel/Footwear Specialty 4,714.9 196 Lenta Group, Russia Hypermarket/Supercenter/Superstore 4,538.6 206 O’Key Group S.A., Russia Hypermarket/Supercenter/Superstore 4,330.1 214 SM Investments Corporation, Philippines Department Store 4,275.8 224 Forever 21, Inc., U.S. Apparel/Footwear Specialty 4,000.0e 225 PRADA Group, Italy Apparel/Footwear Specialty 3,989.3 227 Gruppo Eurospin, Italy Discount Store 3,984.8e** 232 Academy Sports + Outdoors, U.S. Other specialty 3,900.0 243 Reinalt-Thomas Corp. (dba Discount Tire/America's Tire), U.S. Other specialty 3,800.0 244 Tiffany & Co., U.S. Other specialty 3,800.0 245 Ralph Lauren Corporation, U.S. Apparel/Footwear Specialty 3,798.0 247 Magazine Luiza SA, Brazil Electronics Specialty 3,757.6 248 HTM-Group, France Electronics Specialty 3,705.8 249 Welcia Holdings Co., Ltd., Japan Drug Store/Pharmacy 3,705.1 **: Revenue includes wholesale and retail
  34. 34. H&M at the top of the list again (The Q ratio is the ratio of a publicly traded company’s market capitalization to the value of its tangible assets. If the ratio is greater than one, it means that financial market participants believe that part of a company’s value comes from its non- tangible assets.) Top retailers by Q ratio © 2015 Deloitte & Touche Oy, Group of Companies 34 Name of Company Country Q ratio H & M Hennes & Mauritz AB Sweden 6.46 Tractor Supply Company U.S. 5.18 BİM Birleşik Mağazalar A.Ş. Turkey 4.76 Next plc UK 4.68 Inditex, S.A. Spain 4.57 Dollar Tree, Inc. U.S. 4.51 Nike, Inc. U.S. 4.35 The TJX Companies, Inc. U.S. 4.34 Ross Stores, Inc. U.S. 4.33 Fast Retailing Co., Ltd. Japan 3.95
  35. 35. Sweden leads by wide margin Q ratio by geography © 2015 Deloitte & Touche Oy, Group of Companies 35 Q ratio by region Africa/Middle East 1.32 Asia Pacific 0.47 Asia Pacific less Japan 0.51 Europe 0.85 Latin America 0.84 North America 1.76 Q ratio by country Canada 0.52 China 0.25 France 0.50 Germany 0.28 Hong Kong 0.84 Japan 0.43 Mexico 1.02 Russia 1.09 South Africa 0.57 South Korea 0.29 Sweden 3.47 UK 0.63 US 1.82
  36. 36. Apple drives dominance of electronics segment Q ratio by category © 2015 Deloitte & Touche Oy, Group of Companies 36 Q ratio by product sector Apparel and accessories 1.24 Diversified 0.47 FMCG 0.82 Hardlines/Leisure 2.08 Q ratio by retail segment Apparel/Footwear specialty 1.73 Convenience 0.53 Department stores 0.60 Discount department stores 0.60 Discount stores 1.00 Drug stores 1.25 Electronics 2.39 Electronics less Apple 0.51 Home improvement 1.70 Hypermarkets 0.66 Other specialty 1.21 Supermarkets 0.80
  37. 37. Deloitte Finland Your local contact © 2015 Deloitte & Touche Oy, Group of Companies 37 For further information, please contact: Jussi Sairanen Partner Consumer Business jussi.sairanen@deloitte.fi 020 755 5364
  38. 38. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. This communication is for internal distribution and use only among personnel of Deloitte Touche Tohmatsu Limited, its member firms, and their related entities (collectively, the “Deloitte network”). None of the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication. © 2015. For information, contact Deloitte Touche Tohmatsu Limited. 38© 2015 Deloitte & Touche Oy, Group of Companies

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