Two U.S.-based retail giants took the top spots in an annual ranking of the top 50 global retailers.
Walmart retained its No. 1 spot in the National Retail Federation’s “2025 Top 50 Global Retailers” report, which was conducted by Kantar and ranks the leading international retailers based on their revenue throughout 2024. Walmart retained its top spot in large part for significant commitments to a new online marketplace and fulfillment model, noted the NRF.
Amazon took the No. 2 spot, with Schwarz Group, Aldi and Costco Wholesale Corp. rounding out the top five.(See list of top 25 global retailers at end of article).
Kantar’s ranking system awards points to retailers based on their domestic and international retail revenues. To qualify for the ranking, retailers need to have a direct investment in at least three countries. Only retail-specific revenues determined ranking points even as the largest global retailers expand outside of retail revenues. For example, revenue from a retail media network would not be considered retail-specific revenue.
Within the Top 50, Walmart faces competition from Amazon, Schwarz Group, Aldi, Ikea and Costco, all of which are tapping new markets for value retailing, according to the report. Alibaba dropped in the rankings due to Chinese regulations that limited advantages in financial technology, innovation and logistics.
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