According to the STORES Top 100 Retailers ranking, the most successful retailers in the industry are constantly reinventing themselves to stay one step ahead of the competition. Susan Reda, Executive Editor of STORES, the official magazine of the National Retail Federation, states, “It’s not enough anymore for retailers to carry the same merchandise as their competition. From their own brand of food to an exclusive line of tools, today’s retailers will get ahead by differentiating their merchandise and offering products that consumers cannot find anywhere else.”
Wal-Mart continues to heavily dominate the list with an 11.7% increase from 2005 to $348.65 billion in 2006. Home Depot and Kroger are 2nd and 3rd and, although both companies saw good increases, both are surrounded by talks of changes or takeovers of late. Costco and Target hang on to spots #4 and #5, with both giants sweating it out to reinvent themselves to ensure future appeal. Bringing up the rear are Sears, Walgreens and CVS, Loew’s and Safeway at number ten.
SAP America, who sponsored STORES Top 100 List, recognizes the importance of growth and innovation to retail. Senior VP and General Manager Jim Mattecheck stated, “”Successful companies continuously find ways to offer a differentiated shopping experience that inspires customers to shop with that retailer again and again. SAP has a proven track record of helping retailers achieve their goals. In fact, more than 4,300 retailers worldwide are SAP customers.”
This year’s list included restaurants for the first time, including McDonald’s (at #16), Yum! Brands (at #35), Starbucks (at #42), Darden Restaurants (at #53), Brinker International (at #73), and Outback Steakhouse (at #80). STORES’ Reda commented that while “consumers may have changed, their needs have not. Americans still have to put dinner on the table every night, but now they are looking to restaurants to fill a larger portion of that need rather than relying exclusively on traditional supermarkets. Successful restaurants understand how to cater to today’s consumers, and there are some ideas they’re trying that traditional retailers may want to borrow.”
