CANBERRA, Jan. 23 (Xinhua) -- A third Australian company has made the list of the world's top 250 retailers, a global analysis has revealed.
JB Hi-Fi, an electronic retailer founded in 1974, made its debut on the Deloitte Global Powers of Retailing list in 218th spot.
It was the third Australian-owned business on the list after Wesfarmers, owner of hardware store Bunnings and supermarket giant Coles, in 21st and Woolworths, Coles' biggest competitor, in 23rd.
David White, an author of the report, said that JB's success could be attributed to the continued growth and the 696 million U.S. dollar takeover of electronics competitor The Good Guys in 2017, which he said added around 800 million U.S. dollars in sales.
The top three places on the list were occupied by American companies. Wal-Mart kept the top spot followed by Costco and the Kroger Company which owns dozens of retail businesses.
Amazon, whose owner Jeff Bezos became the richest person in history in January, jumped from 10th place to sixth.
Of the 250 companies on the list, 38 operate in Australia.
White said that despite only 15 percent of the list operating in Australia, the country remained an appealing destination for retailers.
"Ongoing population growth, a strong tourism market and improving wages are all set to ensure the overall retail market continues to grow in 2018," he wrote.
"However, with the increase in competition from both international and domestic retailers, we can expect to see further consolidation in the sector."
He said that there were three major disruptors to the market in Australia on the horizon -- Amazon, which opened its first facility in Australia late in 2017, German discount retailer Lidl and Chinese e-commerce platforms.
"These fast-growing Chinese retailers and e-commerce platform providers are starting to make a significant impact on the global retail market," White said.
