The National Retail Federation (NRF) has unveiled its annual Top 100 Retailers list, and the results show that US consumers are relying heavily on 10 top stores to fulfill their shopping needs.
NRF’s report ranks retailers based on their annual US sales last year and is compiled by London-based data analytics firm Kantar. David Marcotte, Kantar’s SVP of global retail and technology, says this year’s list is virtually identical to 2023’s, which indicates that consumers are relying on the same vendors for essential goods as pandemic-era spending eases up and inflation rates rise.
Walmart held onto the ranking’s top spot this year and saw its sales grow by 6.9% to US$534 billion. It also remodeled its 5,321 US locations in 2023, and was the only company to achieve growth by offloading brands—specifically Bonobos (menswear), Moosejaw (outdoor goods) and Eloquii (women’s fashion).
Rounding out the top 10 US retailers are Amazon (US$250 billion), Costco (US$175 billion), Kroger (US$150 billion), The Home Depot (US$141 billion), CVS (US$113 billion), Target (US$106 billion), Walgreens (US$105 billion), Lowe’s (US$84 billion) and Albertsons (US$78 billion).
Quite far down the list at number 93, Beyond (previously Overstock.com) is the fastest-growing US retailer, with sales up by 135% in the wake of acquiring the e-commerce operations of Bed Bath & Beyond last August. And discount grocer Aldi (ranked 14th) posted the second-largest sales increase at 17%.
A full list of the NRF’s Top 100 Retailers can be found here.