Walmart leads annual ranking of top 50 global retailers
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.
“The retail industry experienced continued growth in 2024 as consumer spending remained high despite numerous market uncertainties throughout the year,” said NRF executive director of research Mark Mathews. “This year’s Top 50 Global Retailers is comprised of a diverse list of companies that resonate with consumers across the globe.”
Here are the top 25 global retailers 2025:
- Walmart (U.S.)
- Amazon (U.S.)
- Schwarz Group (Germany)
- Aldi (Germany)
- Costco Wholesale Corp.(U.S.)
- Ahold Delhaize (Netherlands)
- Carrefour (France)
- Seven & I (Japan)
- Ikea (Netherlands)
- The Home Depot (U.S.)
- Walgreens Boots Alliance (U.S.)
- Rewe (German)
- AS Watson (Hong Kong)
- Inditex (Spain)
- Apple (U.S.)
- Metro AG (Germany)
- Jeronimo Martins (Portugal)
- Alibaba (China)
- TJX (U.S.)
- Tesco (U.K.)
- Aeon (Japan)
- H&M (Sweden)
- Auchon (France (U.S.)
- Coop Schweiz (Switzerland)
- Fast Retailing (Japan)
*Source: Kantar Retail
To see the complete NRF Top 50 Global Retailers, and to read more about the methodology, click here.
