Marketing

Walmart, Amazon, Costco lead largest retailer list

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March 2, 2023

Walmart, Amazon and Costo are the top three largest retailers, respectively, according to a Deloitte Global's "Global Powers of Retailing 2023 Report," that identified the 250 biggest retailers worldwide.

The ranking is based on public data for fiscal year 2021 and analyzes performance across geographies and product sectors, according to a press release.

The top 250 retailers achieved a total composite retail growth rate of 8.5% and the top 10 retailers grew by 8% on a composite sales-weighted and currency-adjusted basis.

"In a year of strong year-on-year growth in retail revenue across the top 250, sustainability remains high on the agenda. Several players are working on the resale of slightly used goods and we see many technology-enabled innovations. Successful retailers combine technology with the human factor to help provide optimal customer experience. Among the fastest 50, the main drivers of growth were the luxury brands, e-commerce providers and department stores," Evan Sheehan, Deloitte global retail, wholesale and distribution leader, said in the release.

Walmart led the world's global retailers and JD.com was the fastest-growing top 10 retailer in FY2021, with revenues up by 25.1%.

The top 250 retailers achieved a total composite retail growth rate of 8.5% in FY2021.

"While still posing significant challenges, the retail environment became more hospitable in FY2021 compared to the previous year likely due to the partial relaxation of pandemic restrictions and consumers returning to pre-pandemic shopping habits," stated the release.