Shinsegae Ranks 7th Among Asian Retail Companies... Coupang 11th, Lotte 12th

Exterior view of Shinsegae Department Store Main Branch.

[Asia Economy Reporter Lim Chun-han] Shinsegae Group ranked 7th in the Asia retail company rankings based on retail sales last year.

According to the '2022 Asia Top 100 Retailers Report' by global market research firm Euromonitor International on the 27th, Shinsegae Group (USD 48.91 billion, approximately KRW 63.3873 trillion based on an exchange rate of 1,296 KRW/USD) rose two spots from the previous year to claim 7th place.

Following Shinsegae, Coupang (USD 31.13 billion) ranked 11th, and Lotte (USD 24.93 billion) was 12th. In the 2020 report, the order was Lotte-Shinsegae-Coupang (9th, 10th, 19th), but last year Shinsegae rose to 9th place for the first time, reversing the rankings, and this year the order was reorganized as Shinsegae-Coupang-Lotte. Naver entered the top 20 for the first time last year at 20th place and rose to 15th this year.

Across the Asia region, China's Alibaba (USD 478.9 billion) and JD.com (USD 368.4 billion) remained 1st and 2nd respectively, as in the previous year. Chinese e-commerce company Pinduoduo rose from 7th place in 2020 to 5th last year, and recorded 3rd place this year. Japanese retail company Aeon Group dropped from 3rd to 4th place, and Seven & i Holdings, which operates convenience store chain Seven-Eleven, fell from 4th to 5th place.