Tesco will overtake Carrefour to become the world's second-biggest retailer within four years, according to IGD.

Tesco is set to grow at a faster pace than French retailer Carrefour, surpassing its turnover by 2012, according to IGD's latest report, Global Retailing: Preparing for Change. This would make Tesco second only to Wal-Mart.

IGD predicted that international expansion in markets such as China, US and India would contribute to Tesco's annual turnover reaching £107.5bn by 2012. Carrefour is also expected to achieve strong growth in Brazil and China, enabling it to offset a slowdown in more mature Western markets.

Report author Jonathan Gunz said emerging markets such as China and India would continue to grow. Other emerging markets included Indonesia, Ukraine and Vietnam.

Topics