Global grocery store and supermarket sales total over $2 trillion annually

As per First Research’s industry profile released in November, global grocery store and supermarket sales total over $2 trillion annually, with the leading 15 retailers accounting for more than 30% of worldwide sales.  The report titled Grocery Stores & Supermarkets Industry Profile, includes Industry Overview,  Trends & Challenges, Industry Forecast, Quarterly Industry Update and Business Challenges.

Population growth and consumer tastes drive demand. Intense price competition keeps margins low. As such, the profitability of individual companies depends on high volume sales and efficient operations. Large companies can offer a wide selection of products and have advantages in purchasing, distribution, marketing, and finance. Small companies can compete effectively by offering specialty products, serving a local market, or providing superior customer service. The US industry is concentrated: the 50 largest companies generate about 70% of revenue.

Companies in this industry operate retail stores that offer a general selection of food products. Major companies include Kroger, Safeway (owned by Albertson’s), and Publix (all based in the US), as well as Carrefour (France), Tesco (the UK), Lidl and Aldi (Germany) and AEON (Japan).

The US retail grocery industry includes about 65,000 supermarkets and other grocery stores with combined annual revenue of about $600 billion. Discount stores and warehouse clubs, which are leading sellers of groceries, are covered in separate industry profiles.

Grocery sales in low income countries have increased by almost 70% since 2010. By 2020, it is expected to have more than doubled.

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See the sample report here: