Top Retail Companies Worldwide
With total retail sales worldwide expected to grow over the next few years, launching a retail business, whether as a side hustle or a full-time job, can be lucrative. But before you start your own business, it’s important to have an overview of the top retail companies in the world to understand how they’re performing and what they’re doing right. Here’s a look at the top 10 retail companies worldwide, ranked by their total revenues in 2023.
Top retailers ranked by revenue
|
Retailer |
Total company revenues |
|
1. Walmart |
$628.6 billion |
|---|---|
|
2. Amazon |
$355.1 billion |
|
3. Costco |
$234.0 billion |
|
4. Schwarz Group |
$176.4 billion |
|
5. The Home Depot |
$151.6 billion |
|
6. Aldi |
$145.4 billion |
|
7. Walgreens Boots Alliance |
$117.8 billion |
|
8. Ahold Delhaize |
$97.0 billion |
|
9. Alibaba |
$94.1 billion |
|
10. Carrefour |
$89.7 billion |
1. Walmart ($628.6 billion)
The latest data shows US-based Walmart sitting comfortably in first place on the list of the top retail companies worldwide. The biggest retailer in the world generated a staggering $628.6 billion in sales in 2023, a 7.4% annual increase from 2022. It is also the only one on this list ranking the top retail companies with revenues of more than half a trillion dollars.
As the biggest retailer in the world, it’s a given that Walmart is also the top US retailer. In fact, a good majority of Walmart’s sales come from its home market.
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2. Amazon ($355.1 billion)
Walmart’s lead over the second-biggest retailer in the world, Amazon, is an impressive one. Revenues of $273.5 billion separate Walmart from Amazon, whose annual revenues in 2023 totaled $355.1 billion. Amazon charted a much slower growth rate than Walmart, increasing its revenues by just 0.7% from 2022 to 2023.
Amazon’s top performance can be attributed to its vast product selection, Prime membership program, and commitment to fast delivery. The online platform of the top ecommerce company remains crucial, but Amazon has recently made expansions into physical retail through Whole Foods Market and Amazon Fresh.
3. Costco ($234.0 billion)
Third on the list of the largest retailers worldwide is yet another US company: Costco. In 2023, Costco generated $234 billion in sales. Together, these three largest retailers brought in over $1.2 trillion in global sales.
The wholesale club giant continues to focus on providing value through bulk purchasing, member-exclusive deals, and quality private-label products, making it one of the top retailers globally. Costco also leads in customer satisfaction due to its consistent quality standards.
4. Schwarz Group ($176.4 billion)
Next on the list is German retailer Schwarz Group, which owns grocery stores Lidl and Kaufland, among other ventures. Schwarz Group’s 2023 international retail revenues topped $176.4 billion. It is also the only non-US company in the top five.
5. The Home Depot ($151.6 billion)
Rounding out the five biggest retailers in the world is Georgia-headquartered The Home Depot, North America's largest home improvement retailer. In 2023, it generated $151.6 billion in retail revenues, a 3.6% decrease from the previous year. The fall comes despite having increased its store count.
6. Aldi ($145.4 billion)
Aldi, a discount retailer based in Germany, posted $145.4 billion in revenue in 2023, an 11.5% increase from the previous year’s $130.4 billion. Known for its budget-friendly approach and private-label products, Aldi has expanded globally, providing a simpler, streamlined shopping experience.
The sixth-largest retailer also grew its number of stores, from 13,325 in 2022, to 13,475 in 2023.
7. Walgreens Boots Alliance ($117.8 billion)
Walgreens Boots Alliance, a leading health and wellness retailer, generated $117.8 billion in 2023 and earned seventh place on this list ranking the top retail companies worldwide. This pharmacy-focused company is known for its extensive pharmacy services, health products, and convenience stores across the US and Europe.
8. Ahold Delhaize ($97 billion)
After Walgreens, Ahold Delhaize ranks next. In 2023, the Dutch-Belgian retailer generated $97 billion. Its portfolio of brands includes Giant, Food Lion, and Stop & Shop, among others, providing diverse retail services across North America and Europe, with a heavy focus on grocery and ecommerce.
9. Alibaba ($94.1 billion)
Meanwhile, China's largest online retailer Alibaba reported $94.1 billion in revenue. Its global reach, innovative digital ecosystem, and vast product offerings make Alibaba a formidable ecommerce player, even amid tightening regulations.
Alibaba’s revenues have skyrocketed over the past decade and it should come as no surprise that it is also among the largest internet companies ranked by market cap.
10. Carrefour ($89.7 billion)
Carrefour, a French multinational retailer, completes the list of the 10 largest retailers worldwide. The company generated $89.7 billion in revenue in 2023, representing a significant 17.3% decline from the previous year. Additionally, Carrefour reduced its total number of stores from 14,474 to 14,014.
With a strong presence in Europe, Latin America, and Asia, Carrefour's focus on hypermarkets, supermarkets, and ecommerce allows it to reach a broad customer base.