Walmart again led the rankings of the top 100 retailers as its sales grew 7% to $568.70 billion in 2024.
Amazon retained its hold on the second position with sales of $273.66 billion, according to data compiled by the National Retail Federation and Kantar. Costco Wholesale, The Kroger Co., and The Home Depot completed the top five.
This year’s list reveals a notable trend of stability among the largest stores, with the top 13 chains remaining mostly unchanged from the previous year. Target dropped from the seventh to the eighth position, while Boots Alliance made an upward move to claim seventh place.
“As consumers evaluate their spending priorities, businesses are unlocking new ways to better connect with customers and retain loyalty,” said Mark Mathews, NRF’s executive director of research, in a release, who noted that the modern retail environment increasingly demands a nuanced understanding of consumer needs, digital transformation, and a commitment to customer engagement.
“While the companies at the top of the list not only reflect those with the strongest retail sales, they are also a reflection of those that have remained nimble to a changing landscape from the impacts of trade policy and shifting consumer habits,” said David Marcotte, senior vice president of global insights and technology at Kantar.
The report also touches on the declining fortunes of drugstores, with Rite Aid notably sliding from No. 29 to No. 40. This decline can be attributed to a drop in front-store sales, even as health services performed well following the pandemic. At the same time, the pet retail industry has seen moderate changes. PetSmart and Petco experienced slight decreases in their U.S. store numbers and sales, reflecting the stabilization of pet ownership post-pandemic and changing discretionary spending on pet products.
Find more articles by Stuart Chirls here.
Related coverage:
“Brace!” Endless disruptions mark new path to supply chain resiliency
Geodis returns solutions aim for streamlined reverse logisticsWarehouse automation surging ahead despite predicted slowdown
FedEx to close 30% of package facilities as network integration ramps up
The post Biggest gets bigger: Walmart leads all retailers as sales grew 7% in 2024 appeared first on FreightWaves.
