The National Retail Federation (NRF), in partnership with consultancy firm Kantar, has released its 2025 list of the Top 50 Global Retailers. The ranking, based on retail revenue generated in 2024, shows little movement at the top, with Walmart retaining its position as the world’s largest retailer.
Retailers are ranked using a points system that considers both domestic and international revenues. To qualify, companies must operate directly in at least three countries.
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Walmart leads, top ten remains unchanged
Walmart continues to lead the global retail sector, bolstered by its ongoing expansion into online marketplaces and updated fulfilment strategies.
Amazon holds the second spot, followed by Germany’s Schwarz Group, the parent company of Lidl.
Other names in the top ten include Aldi, Costco, Ahold Delhaize, Carrefour, Seven & I, IKEA, and The Home Depot — the same companies as in 2023, maintaining their positions in an otherwise shifting market.
Source: Kantar Retail
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By GlobalDataRetail sector shows stability following uncertainty
According to Kantar, 2024 was marked by a period of relative stability for the retail industry. Many of the economic pressures seen in recent years — including high supply chain costs and labour disruptions — began to ease.
While online shopping growth slowed, in-person retail made a stronger return, with consumers visiting physical stores more frequently.
At the same time, wages continued to rise in many countries, supporting higher levels of consumer spending. This helped drive overall revenue growth across the sector, despite ongoing geopolitical and economic challenges in some regions.
Global expansion remains key to ranking
Kantar’s methodology places emphasis on international operations, requiring retailers to have investments in at least three countries to be eligible. This highlights the growing importance of global reach in maintaining competitive advantage.
The 2025 list reflects broader industry trends, including mergers and infrastructure upgrades, as companies look to adapt to changing shopping habits and economic conditions.
Retailers with strong multichannel strategies — combining physical locations with ecommerce platforms — remain best positioned to perform well in the evolving global market.
