Retailers sell products and services to private customers or businesses, who make purchases through single transactions or subscriptions. Most retail activities are still carried out in physical stores, which sell general merchandise or specialize in specific products.
In recent years, the retail industry has faced a multitude of changes. While digital technology adoption has brought innovation, specific retail formats such as convenience and franchise stores are growing significantly faster than others. The retail market for fast-moving consumer goods is highly affected by the rise of e-commerce and shifts in consumer behavior, such as an increasing demand for multiple delivery and collection options. Meanwhile, the retail supply chain is becoming more complex, as brick-and-mortar stores are only one of many shopping touchpoints.
As one of several recent macro-trends, consumers expect retailers to run more sustainable businesses and reduce their impact on the environment.
As of 2024, Amazon was ranked as the world’s most valuable retail brand, with a brand value of around 185 billion U.S. dollars. Amazon.com is an international e-commerce company offering online retail, computing services, consumer electronics, digital content as well as other local services such as daily deals and groceries. Alibaba, Home Depot, and Walmart were the next most valuable retail brands in the world that year.
Brand value
Brand value, not to be mistaken with brand equity, is a commonly used phrase in the marketing industry. It describes the value of brands based on the assumption that the owner of a well-known brand name can generate more money compared to products with a less well-known name.
Walmart
Walmart, formerly known as Wal-Mart Stores, Inc., is one of the most well-known and valuable brands in the world. Walmart generates revenue through retail, wholesale, membership club, and online product sales. The multinational company generated the most retail revenue in the world in 2021.
Global retail sales were projected to amount to around 32.8 trillion U.S. dollars by 2026, up from approximately 26.4 trillion U.S. dollars in 2021. The retail industry encompasses the journey of a good or service. This typically starts with the manufacturing of a product and ends with said product being purchased by a consumer from a retailer. Retail establishments come in many forms such as grocery stores, restaurants, and bookstores.
American retailers worldwide
As a result of globalization and various trade agreements between markets and countries, many retailers are capable of doing business on a global scale. Many of the world’s leading retailers are American companies. Walmart and Amazon are examples of such American retailers. The success of U.S. retailers can also be seen through their performance in online retail.
Retail in the U.S.
The domestic retail market in the United States is a lucrative market, in which many companies compete. Walmart, a retail chain offering low prices and a wide selection of products, is the leading retailer in the United States. Amazon, The Kroger Co., Costco, and Target are a selection of other leading U.S. retailers.
The retail industry encompasses the journey of a good or service. This typically starts with the manufacture of a product and ends with said product being purchased by a consumer from a retailer. As a result of globalization and various trade agreements between markets and countries, many retailers are capable of doing business on a global scale. Based on retail sales generated in the financial year 2021, Walmart was by far the world's leading retailer with retail revenues reaching over 572 billion U.S. dollars.
U.S. companies dominate global retail
Many of the world’s leading retailers are American companies. Walmart and Amazon are examples of American retailers doing business around the world. The domestic retail market in the United States is also very competitive, with many companies recording substantial retail sales. The success of U.S. retailers can also be seen through their performance in online retail. Amazon is a prime example of this, with the company’s sales revenue flourishing over the previous years in line with the rise of e-Commerce worldwide.
Total retail sales in the United States were projected to amount to 7.9 trillion U.S. dollars in 2026, up from around 6.6 trillion U.S. dollars in 2021. These figures included e-commerce and retail sales. Retail establishments come in many forms such as grocery stores, restaurants, and bookstores. There are around four million retail establishments in the United States.
Leading companies in U.S. retail
The domestic retail market in the United States is very competitive, with many companies recording substantial retail sales. Walmart, a retail chain offering low prices and a wide selection of products, is the leading retailer in the United States. Amazon, The Kroger Co., Costco, and Target are a selection of other leading U.S. retailers.
American retailers worldwide
Many of the world’s leading retailers are American companies. Walmart and Amazon are examples of American retailers doing business on a global scale. The success of U.S. retailers can also be seen through their performance in online retail. Amazon is a prime example of this, with the company’s sales revenue flourishing over the previous years.
In Europe, LVMH was the leading consumer goods company based on market capitalization, whose market cap reached 449 billion US dollars in March 31, 2024.
Textile, cosmetics and luxury lift the European consumer goods landscape
Next to LVMH, Hermés is another luxury brand that ranks among the top five European companies in terms of market capitalization. The French luxury group had a market cap of 267 billion euros by the end of March 2024. Spain's Inditex also performed highly in the market, reaching over 150 billion euros. Inditex's global revenue soared in 2023.
LVMH deep dive
In April 2023, LVMH Group had become the first European company to exceed a market cap of 500 billion euros. Since then the market value of the company stabilized below that level, but the luxury conglomorate continues to be the most successful consumer business in the continent. Parent to many luxury brands including Louis Vitton, Möet, Givency and Christion Dior, LMVH generates the highest revenue from its fashion and leather products. Other than this, the group's product range include cosmetics, wines and spirits, watches and jewelry.
In 2023, food and beverage stores were estimated to generate over one trillion U.S. dollars in retail sales. In contrast, general merchandise stores such as department stores were estimated to reach sales of 884 billion U.S. dollars.
Food and beverage stores include grocery stores, supermarkets and other grocery excluding convenience stores, and beer, wine, and liquor stores. General merchandise stores include department stores, discount department stores, other general merchandise stores, warehouse clubs and superstores, and all other general merchandise stores.
In 2023, Chinese retailers Wal-Mart (China) Investment, Easyhome New Retail Group, and Suning.com Group were the leading three retail chain operators in the country, with approximately 120.2 billion yuan, 117.6 billion yuan, and 94.1 billion yuan in retail sales respectively.
Retail chain enterprises
The total retail sales of the leading 100 retail chain operators in China reached nearly 2.03 trillion yuan in 2023, increasing from around 1.94 trillion compared to the previous year. That year, only 40 enterprises among the leading 100 chain retailers recorded positive sales growth.
Suning Commerce Group
Suning Commerce Group, also known as Suning.com Group, has been the largest retail chain operator in China since 2015, with the most recently recorded annual revenue of 71.4 billion yuan. Headquartered in Nanjing, the enterprise is engaged in not only retail, but also finances, logistics, and digital services. In the retail sector, it mainly operates franchised retail shops of electronic home appliances. As of 2021, Suning Commerce Group had a total of 1,641 physical stores.
This ranking depicts the leading 100 American retailers in 2023, based on U.S. retail sales. Once again, Walmart was the leading American retailer. That year, the company accounted for retail sales of about 530 billion U.S. dollars.
Walmart was founded by Samuel Moore Walton (1918-1992) in 1962. Walmart's headquarters is situated in Bentonville, Arkansas and operates worldwide under different names (such as Walmex in Mexico and Best Price in India).
Although Walmart is the unequivocal front-running retailer in terms of U.S. retail sales, Amazon.com inches closer each and every year. The retail industry is in the midst of a customer revolution. The collision of the virtual and physical worlds is fundamentally changing consumers' purchasing behaviors. Consumers are seeking an integrated shopping experience across all channels and expect retailers to deliver this experience. The key drivers of this customer revolution are the rapid adoption of mobile devices, digital media and tablets equipped with shopping apps. In fact, the share of smartphone users in the United States was around 90 percent. In other words, nearly the entire country's population now uses smartphones.
As such, the retail paradigm has shifted from a physical connection point with customers to a multi-pronged approach that crosses both physical and digital channels. The traditional brick-and-mortar retail store is no longer the dominant medium for purchasing all types of goods. Instead, it serves as one of many potential connection points between customers and a retailer's brand.
Today's consumer is increasingly connected to both the physical and digital space and able to interact with retailers through multiple channels simultaneously. To stay competitive in this ever-evolving landscape, it is imperative for retailers to deliver a seamless customer experience across all channels and provide the right services and products at the right time.
In 2023, holiday retail sales in the United States were forecast to reach about 957.3 billion U.S. dollars. This figure was given as a conservative value; retail sales over the holiday season was projected to be between 957.3 billion U.S. dollars to 966.6 billion U.S. dollars in 2023. Holiday retail sales have risen substantially since the turn of the century, with holiday retail sales amounting to approximately 416 billion U.S. dollars back in 2002. Holiday retail sales are a fraction of total retail sales in the United States which were around seven trillion U.S. dollars in 2022. Holiday season e-commerce is also on the rise, with increasing numbers of retailers and consumers going digital.
What makes up the winter holiday season in the United States?
The winter holiday season includes shopping occasions such as Thanksgiving weekend - which is made up of Black Friday, Small Business Saturday, and Cyber Monday, Super Saturday – the last Saturday before Christmas, and Christmas itself. Thanksgiving weekend is a very popular time for consumers to partake in holiday shopping. In 2022, over 100 million U.S. consumers shopped on Black Friday.
Leading companies in U.S. retail
The domestic retail market in the United States is very competitive, with many companies recording substantial retail sales. Walmart, a retail chain offering low prices and a wide selection of products, is the leading retailer in the United States. Amazon, The Kroger Co., Costco, and Target are a selection of other leading U.S. retailers.
Retail trade refers to the display and sale of new or used goods to consumers for personal or household consumption. The segment also includes motor vehicle retail, fuel retailing, food retailing, and other forms of mainly store-based retail of consumer goods.
In this category, Statista provides an overview of key indicators such as industry market value, number of enterprises and employment figures worldwide over several retail sectors. Additionally, financial indicators and market shares of leading brands and retailers are covered, as well as the latest consumer behavior and shopping trends. Furthermore, survey data illustrates the perspective of retailers and decision-makers regarding evolving trends affecting the industry.
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