Ireland ranks seventh globally in terms of individual consumer spend, according to a new study. It also found that Musgrave was 39th in the list of 50 fastest-growing retailers between 1998 and 2003.
The study by consulting group Deloitte found that Ireland had per capita sales of $6,142 (€4,709), compared to the leading country, Japan, with sales of $9,309, and the US with sales of $8,542.
Deloitte said the strength of the Irish market was underlined by the significant presence here of 21 of the 250 largest retailers in the world. It found that more than 50 per cent of these companies are from Britain and include retailers such as Tesco and B&Q.
Musgrave was the only Irish company to be included in the list of the top 250 retailers. Musgrave ranks 155th overall, but 39th in the 50 fastest-growing retailers.
"Musgrave had group sales in 2003 of $3.78 billion and its compound annual growth rate between 1998 and 2003 was 17.5 per cent," the report says.
Wal-Mart was the leading global retailer, with sales of $258.68 billion. The Deloitte report also found that Aldi and Lidl have a strong market presence here.
It said that success of the "hard discount format" in Ireland was mirrored internationally. Globally, the hard discount format which emerged from Germany was proving successful in most countries that it has penetrated.
"In France, for example, hard discount formats are taking one or two market share points each year and already have reached 14 per cent in a market with no growth."
Current industry estimates put the Aldi/Lidl market share at almost 6 per cent in the Republic.
Mr Cormac Hughes, consumer business partner at Deloitte, said competition had intensified even though consumers now had more cash to spend, due to the pick-up in the global economy.
The Irish findings are contained in the report entitled 2005 Global Powers of Retailing. It predicts that the focus is now switching from the US to the Asian market - to China in particular. The report forecasts that the trend of mergers and acquisitions, which saw an increase in activity last year, would continue.
