Highlights. The largest retailer in the world is Walmart, with a 2023 retail revenue* of $635.0 billion and 10,569 stores across 19 countries.
- The runner-up is Amazon, with a 2023 retail revenue of $359.9 billion and 589 stores across 21 countries.
- Walmart is also the largest retailer in the United States, with $534.0 billion in domestic retail sales across 5,321 locations.
- Together, the Top 10 global retailers represent a 2023 total revenue of $2.01 trillion.
- In 2023, the retail revenue produced by the Top 10 U.S. retailers increased by 3.31%.
*Many retail companies gain revenue from non-retail services, such as fulfillment services.
| Rank | Retailer | 2023 Retail Revenue (in billions) |
|---|---|---|
| 1 | Walmart | $635.0 |
| 2 | Amazon | $359.9 |
| 3 | Costco | $234.2 |
| 4 | Home Depot | $150.7 |
| 5 | Kroger | $149.6 |
| 6 | Walgreens | $118.3 |
| 7 | CVS | $114.3 |
| 8 | Target | $105.8 |
| 9 | Lowe’s | $84.0 |
| 10 | Albertsons | $77.9 |
Top 10 Global Retailers
The Top 10 global retailers below are ranked by their total 2023 revenues in USD.
- Walmart, the largest retailer in the world, had 2023 retail revenue of $635.0 billion, a 5.67% year-over-year increase.
- Walmart’s retail revenue represents a 2.17% market share of 2023’s total global retail revenue of $29.3 trillion.
- 15.2% of Walmart’s 2023 retail revenue came from international sales, down from 16.8% the previous year.
- 49.5% of Walmart stores are located outside of the United States.
- From 2016 to 2021, the Top 10 global retailers expanded their retail revenue at a compound annual growth rate of 7.9%.
1. Walmart
Walmart is an American general merchandise retailer with expansions into international markets and eCommerce.
- Walmart’s 2023 total company revenues were $628.6 billion.
- Walmart’s international-only (i.e., non-U.S.) revenues in 2023 totaled $96.3 billion.
- Walmart operates 10,569 stores in 19 countries.
- 84% of Walmart’s sales take place in the United States, where it holds a 9.51% share of the retail market.
2. Amazon
Among its other ventures, such as streaming and publishing, this American company is the world’s largest online retailer.
- Amazon’s 2023 total company revenues were $574.8 billion.
- Amazon’s international-only revenues in 2023 totaled $131.2 billion.
- Amazon operates 589 stores in 22 countries.
- 69% of Amazon’s sales take place in the United States, where it holds a 4.45% share of the retail market.
3. Costco
Costco, a global retailer based in the U.S., operates on a membership warehouse model.
- Costco’s 2023 total company revenues were $234.0 billion.
- Costco’s international-only revenues in 2023 totaled $58.6 billion.
- Costco operates 867 stores in 15 countries.
- 75% of Costco’s sales take place in the United States, where it holds a 3.12% share of the retail market.
4. Schwarz Group
The Schwarz Group is a German grocery retailer and superstore that operates primarily through its chains Lidl and Kaufland.
- The Schwarz Group’s 2023 total company revenues were $176.4 billion.
- The Schwarz Group’s international-only (i.e., non-domestic) revenues were $119.9 billion.
- The Schwarz Group operates 14,112 stores in 30 countries.
- 10,059 or 71.3%. of the Schwarz Group’s stores are located outside Germany.
5. Home Depot
The Home Depot is an American home improvement retailer and the largest home improvement retailer in the world.
- The Home Depot’s 2023 total company revenues were $151.6 billion.
- The Home Depot’s international-only revenues in 2023 totaled $9.61 billion.
- The Home Depot operates 2,326 stores in 6 countries.
- 94% of the Home Depot’s sales take place in the United States, where it holds a 2.52% share of the retail market.
6. Aldi
Aldi is a global German grocery retailer that focuses on competitive pricing.
- Aldi’s 2023 total company revenues were $145.4 billion.
- Aldi’s international-only revenues were $108.0 billion.
- Aldi operates 13,475 stores in 18 countries.
- 74.2% of Aldi’s 2023 revenue came from international sales.
7. Ahold Delhaize
Ahold Delhaize is a global grocery retailer based in the Netherlands operating major brands including Hannaford, Stop & Shop, and Albert Heijn.
- Ahold Delhaize’s 2023 total company revenues were $97.0 billion.
- Ahold Delhaize’s international-only revenues in 2023 totaled $75.9 billion.
- Ahold Delhaize operates 8,057 stores in 9 countries.
- 62% of Ahold Delhaize’s 2023 revenue came from U.S. sales.
8. Carrefour
Carrefour is a French multinational grocery retailer focused on providing quality services, products, and food for all.
- Carrefour’s 2023 total company revenues were $89.7 billion
- Carrefour’s international-only revenues were $59.0 billion.
- Carrefour operates 14,014 stores in 32 countries.
- 8,192 or 58.5% of Carrefour stores are located outside France.
9. Seven & I
Seven & I Holdings is a Japanese retail group operating convenience stores and superstores including 7-Eleven and Ito-Yokado.
- Seven & I’s 2023 total company revenues were $85.0 billion.
- Seven & I’s international-only revenues were $32.2 billion.
- Seven & I Holdings operates 40,454 stores in 10 countries.
- 32% of 7-Eleven’s 2023 revenue came from U.S. sales.
10. IKEA
IKEA is a Swedish global home furnishings retailer focused on affordability and design.
- IKEA’s 2023 total company revenues were $45.6 billion.
- IKEA’s international-only revenues in 2023 totaled $44.0 billion.
- IKEA operates 464 stores in 51 countries.
- 54 or 11.6% of IKEA stores are located in the U.S.
Top U.S. Retailers
These are the top U.S. retailers by their 2023 U.S. sales.
- The biggest retailer in the U.S. is Walmart, with $534.0 billion in 2023 domestic retail sales.
- Walmart’s U.S. retail sales are 113% greater than those of the runner-up, Amazon.
- From 2022 to 2023, Walmart’s U.S. sales grew by 6.87%; Amazon’s U.S. sales grew by 7.59% over the same period.
- Walmart’s domestic sales made up 84% of their total worldwide retail sales in 2023; Amazon’s made up 69%.
Top U.S. Retailers by Worldwide Retail Sales
Worldwide retail sales count the business a company does domestically and globally.
- Walmart led in worldwide retail sales with $635.0 billion in 2023.
- Amazon placed second with $359.9 billion in 2023 worldwide retail sales.
- With $234.2 billion in worldwide retail sales, Costco surpassed The Home Depot’s 2023 retail sales of $150.7 billion by 55.4%.
Top Global and U.S. Retailers by Industry
Businesses that deal in many categories of retail, like Walmart, as well as those that own companies in multiple sectors of retail, only appear in the superstore category. Only U.S.-based companies are included in U.S. rankings.
- The leading superstore both globally and in the U.S. is Walmart, with a total company revenue of $628.6 billion.
- Globally, the leading grocery retailer is Aldi with a total company revenue of $108.0 billion in 2023.
- In the United States, the leader in the grocery sector is Albertsons with a 2023 revenue of $77.9 billion.
- The Home Depot is the leading hardware retailer both globally and in the United States, with a total company revenue of $151.6 billion.
- After Amazon, Landmark Group leads globally in apparel retail with a total company revenue of $40.7 billion.
- In the United States, the leader in the apparel sector is GAP Inc. with a 2023 revenue of $15.0 billion.
- With a total company revenue of $81.6 billion, Apple leads in consumer electronics retail both domestically and globally.
- Globally, the leading furniture retailer is IKEA with a total company revenue of $45.6 billion. In the United States, Wayfair leads with $12.0 billion.
Top Grocery Retailers
Superstore retailers like Walmart, which sell groceries but also sell other products, were excluded from this category.
- Schwarz Group, the leading global grocery retailer, has a 21.3% greater total company revenue than Aldi, its closest competitor.
- Ahold Delhaize is the third largest grocery retailer globally, with a total company revenue of $97.0 billion.
- The leading grocery retailer in the United States, Albertsons, places 5th globally with a total company revenue of $77.9 billion.
Top Home Improvement Retailers
American companies The Home Depot and Lowe’s are the largest hardware retailers in the world, with no close competitors.
- The Home Depot leads in both global and U.S. hardware retail, with a total company revenue 80.4% larger than that of its closest competitor Lowe’s.
- With a total company revenue of $84.0 billion, Lowe’s is the second largest hardware retailer both globally and domestically.
- The French holding group ADEO takes third place globally with $31.7 billion.
Top Apparel Retailers
Apparel and accessories are often sold through online stores and superstores.
- Landmark Group, the leading global apparel retailer, has a total company revenue 12.1% higher than its closest competitor, Inditex.
- Globally, Inditex holds second place with a total company revenue of $39.3 billion.
- The leading apparel retailer in the United States, Gap Inc. had a total company revenue of $15.0 billion.
Top Electronics Retailers
Consumer electronics include both handheld devices and electronic appliances.
- Globally, Apple remains ahead of its domestic competitor Best Buy, with 82.9% greater total company revenues.
- Best Buy holds second place both globally and domestically with a total company revenue of $44.6 billion.
- Globally, Spanish retailer Haier takes third place with $36.4 billion.
Top Furniture Retailers
While U.S. leader Wayfair is primarily an online retailer, it has operated physical storefronts in the past and plans to open new locations in the near future.
- Swedish furniture retailer IKEA holds first place with 212% greater total company revenues than its closest global competitor, Steinhoff International.
- With a total company revenue of $14.6 billion, Steinhoff is the second largest global furniture retailer.
- Wayfair holds third place globally and second place in the U.S. with a total company revenue of $12.0 billion.
Top Online Retailers
Out of retailers that operate primarily or exclusively in eCommerce, Amazon leads by a wide margin. It is followed by several Chinese eCommerce giants.
- With a 2023 revenue of $574.8 billion and a global online retail market share of 9.94%, Amazon is the largest online retailer in the world.
- While 39.7% of Amazon’s 2023 revenue came from services outside of retail, Amazon’s $255.9 billion in retail sales alone are enough to secure it the top spot.
- Amazon’s 2023 revenue was 280% larger than its closest competitor, JD.com, which had a revenue of $151.1 billion.
- Amazon’s 2023 revenue was 4,690% larger than its closest domestic competitor, Wayfair, which had a 2023 revenue of $12.0 billion.
Top Online Retailers by Market Share
Although the top online retailers include industry giants like Amazon, these companies still hold relatively small portions of the global online retail market.
- Amazon leads with a 9.94% share of the global online retail market and a 37.6% share of the U.S. online retail market.
- Together, the Top 10 online retailers represent 9.40% of the global online retail market share in 2022.
- The remaining 90.6% of the global online retail sales are generated by businesses outside of the Top 10.
Top Global Retailers by Other Metrics
Total company revenue includes revenues generated from any income streams the retailer possesses that are not related to retail.
- By international-only revenue, Amazon leads with a 2023 international revenue of $131.2 billion.
- Thanks to its variety of subscription services, Amazon’s 2023 total company revenue was $574.8 billion, 59.7% greater than its retail revenue.
- Alibaba, Amazon’s closest e-commerce-exclusive competitor, produced a 2023 total company revenue of $126.5 billion, just 22.0% of Amazon’s.
- With a 2023 international revenue of $108.0 billion, Aldi nearly matched Schwarz Group’s $119.9 billion.
- Smaller players in terms of retail sales, like IKEA and AS Watson, rank high in international revenue, with $44.0 billion and $23.2 billion, respectively.
Top Global Retailers by Market Cap
Market capitalization measures a company’s size by the total value of its outstanding shares of stock. Many of the leading retailers by market capitalization are based in the United States.
- In 2024, Amazon led with a market capitalization of $1.94 trillion, 241% greater than the runner-up, Walmart.
- Walmart, the largest retailer by revenue, held second place in 2024 market capitalization with $568.3 billion.
- Costco placed third with a market capitalization of $377.8 billion.
Top Global Retailers by Number of Stores
When ranked by number of physical locations, convenience stores and small discount grocery stores dominate the Top 10.
- Seven & I, owner of the chains 7-Eleven and Denny’s, lead with 40,454 stores in 2023.
- In 2023, Seven & I owned 66.8% more stores than the runner-up, Family Mart, which operated 24,251 stores.
- Japanese convenience retailer Lawson is in 3rd place with 21,902 stores in 2023.
Top Global Retailers by Countries of First-Party Operation
A country of first-party operation is any country in which a retailer operates a store that they own directly.
- With stores in 68 nations as of 2023, Swedish clothing company H&M lead in countries of first-party operation.
- IKEA, a Swedish home goods retailer, held second place with 51 countries.
- Walmart, the world’s largest retailer, held 14th place with 19 countries in 2023.
| Rank | Retailer | % Sales Growth (’22 to ’23) |
|---|---|---|
| 1 | Aldi | 17.0% |
| 2 | Lululemon | 16.6% |
| 3 | Sephora | 15.6% |
| 4 | H.E. Butt Grocery | 12.7% |
| 5 | Burlington | 11.7% |
| 6 | Defense Commissary Agency | 11.4% |
| 7 | Total Wine & More | 11.3% |
| 8 | Chewy.com | 10.4% |
| 9 | Ulta Beauty | 9.8% |
| 10 | O’Reilly Auto Parts | 9.3% |
Top U.S. Retailers by Other Metrics
68 of the top 100 U.S. retailers saw sales growth in 2023.
- Aldi was the fastest-growing retailer in the U.S., with a sales growth of 17.0% in 2023.
- Lululemon took 2nd with a 2023 U.S. sales growth of 16.6%.
- Walmart, the top retailer by revenue in the U.S., placed 20th with a U.S. sales growth of 6.9% in 2023.
- Overstock.com, which saw a U.S. sales growth of 135.1% due to its acquisition of the Bed Bath & Beyond brand, was omitted as an outlier.
Top U.S. Retailers by Market Cap
Market capitalization measures a company’s size by the total value of its outstanding shares of stock. Many of the top U.S. retailers also rank in the global Top 10.
- Among both global and U.S. companies, Amazon led in 2024 market capitalization with $1.94 trillion.
- Walmart held second place both globally and in the U.S. with a market capitalization of $568.3 billion.
- With a market capitalization of $356.6 billion, Home Depot ranks 4th place among U.S. companies.
Top U.S. Retailers by Number of Stores
Dollar stores and convenience stores lead in number of U.S. locations.
- Dollar General led with 20,583 U.S. locations in 2023; followed by Dollar Tree with 16,440 locations.
- In 2022, 7-Eleven held third place with 12,592 stores, 31.1% of its total number of stores worldwide.
- Walmart, the largest retailer globally and in the United States, took 11th place with 5,321 U.S. locations in 2023.
These data and insights were compiled by the Capital One Shopping team based on publicly available data.
Sources
- Statista, Industries: Retail & Trade
- National Retail Federation
- Deloitte, Global Powers of Retailing
- Walmart, About
- United States Census Bureau
- Techtarget.com, What is Amazon?
- Costco, About Us
- Schwarz Group
- The Home Depot, About Us
- Carrefour Group, History
- Macrotrends.net
- Seven & I Holdings, Group
- Companies Marketcap, Largest retail companies by market cap
- IKEA
- Supermarket News, Aldi U.S.
- Ahold Delhaize, About
- Zoominfo
- eMarketer, In 2023, total retail sales growth worldwide will muddle through at just under 4%
- U.S. Securities and Exchange Commission, Form 10-K 2022: Amazon.com, Inc.