SurveysMar 17, 2022
NRF Predicts Strong Year for Retail Despite Rising PricesMajorsMar 24, 2022
These Are the Top 50 Retailers in the World, Says NRF
The National Retail Federation shared what makes the top-ranked companies so successful.
Walmart once again took the top spot on the National Retail Federation’s “Top 50 Global Retailers” list, released Wednesday. The list ranks companies based on domestic and international revenues, and retailers must be present in at least three countries to be considered.
New York—The National Retail Federation released its list of the top 50 global retailers Wednesday, and some familiar names were at the top.
The NRF works with Kantar Retail to create the list, ranking companies based on domestic and international retail revenues. Retailers need to have direct investments in at least three countries to make the cut.
The list also shares insights on what contributed to the success of the top-ranked companies.
A U.S. retailer—Walmart—was in the top spot, raking in $538.15 billion in revenue in 2021.
The NRF has published a list of the top retailers in the world for more than 20 years, said a spokesperson, narrowing it down to 50 in 2019. Walmart has consistently been No. 1.
In 2021, Walmart leveraged its logistical advantages to attract customers of varying income levels, said the NRF.
The ability to buy across platforms appealed to higher-income shoppers who may have otherwise shopped at Amazon.
To serve lower-income customers, Walmart expanded access to online shopping by offering affordable internet access. The company partnered with AT&T in May 2021 to offer low- or no-cost internet and wireless plans as part of the Emergency Broadband Benefit Program, an FCC program created to provide broadband access to those who can’t afford it as a result of the COVID-19 pandemic.
Another U.S. retailer, Amazon.com, came in second place, with $330.2 billion in revenue last year.
The key to Amazon’s success has been expansion, moving into new markets in Latin America and Asia while also expanding its in-house logistics to fulfill orders quickly.
The company is bolstering its Amazon Web Services division by adding new products and services, and upping its physical store network, said the NRF.
It’s also showing off its technical know-how via its touchless “Just Walk Out” payment system available at its new Amazon Fresh stores and existing Amazon Go stores.
Related stories will be right here …
The NRF works with Kantar Retail to create the list, ranking companies based on domestic and international retail revenues. Retailers need to have direct investments in at least three countries to make the cut.
The list also shares insights on what contributed to the success of the top-ranked companies.
A U.S. retailer—Walmart—was in the top spot, raking in $538.15 billion in revenue in 2021.
The NRF has published a list of the top retailers in the world for more than 20 years, said a spokesperson, narrowing it down to 50 in 2019. Walmart has consistently been No. 1.
In 2021, Walmart leveraged its logistical advantages to attract customers of varying income levels, said the NRF.
The ability to buy across platforms appealed to higher-income shoppers who may have otherwise shopped at Amazon.
To serve lower-income customers, Walmart expanded access to online shopping by offering affordable internet access. The company partnered with AT&T in May 2021 to offer low- or no-cost internet and wireless plans as part of the Emergency Broadband Benefit Program, an FCC program created to provide broadband access to those who can’t afford it as a result of the COVID-19 pandemic.
Another U.S. retailer, Amazon.com, came in second place, with $330.2 billion in revenue last year.
The key to Amazon’s success has been expansion, moving into new markets in Latin America and Asia while also expanding its in-house logistics to fulfill orders quickly.
The company is bolstering its Amazon Web Services division by adding new products and services, and upping its physical store network, said the NRF.
It’s also showing off its technical know-how via its touchless “Just Walk Out” payment system available at its new Amazon Fresh stores and existing Amazon Go stores.
Schwarz Group and Aldi, two Germany-based discount grocery store companies, took the third and fourth spots.
Schwarz Group, which owns Lidl and Kaufland grocery stores, is the largest retailer in Europe and the fourth largest in the world, said the NRF, with 2021 revenue totaling $158.58 billion.
The privately-held company is balancing store remodels in Western Europe while slowly growing its U.S. footprint, mainly in the mid-Atlantic states.
Like Amazon, it also has invested in bolstering its fulfillment capabilities, as well as growing its online presence.
Aldi’s keys to success are a common theme in the top five: investing in online growth, bolstering logistics and store expansion.
The No. 4 company, with 2021 revenue of $134.67 billion, is the strongest retailer in Central Europe, said the NRF, and one of the fastest-growing retailers in the United States, opening stores in new regions while also setting its sights on new markets like China.
“The company continues to integrate its global sourcing, international logistics and e-commerce operations into a highly standardized model,” said the NRF.
Costco came in fifth place, with 2021 revenue totaling $187.16 billion.
The value of the company’s membership model has grabbed the attention of international middle-class shoppers, said the NRF. The high member retention rate has given the company stable funds to open new warehouses and boost its e-commerce capabilities.
“Its low SKU count and rotating available product have worked in its favor within the tight international inventory environment. Costco is also reinvesting in services to enhance member value,” said the NRF.
The National Retail Federation also took a look at the challenges retailers faced in 2021, and how they were able to succeed in spite of those obstacles.
The apparel sector benefited from pent-up demand when malls and shopping districts reopened, but those dependent on imports faced an uphill battle trying to match 2020 levels.
A logistics slowdown, coupled with a shortage of packaging materials like plastic and aluminum, hampered food retailing.
Retailers across the board in most countries faced labor shortages, which took a toll on operating hours and service capabilities.
The inventory and labor issues were so widespread, however, that shoppers adjusted to them and continued spending, but not at the same level as 2020.
The NRF and Kantar said they are keeping an eye on the ongoing Russian invasion of Ukraine and its impact on global retail.
The full list of the top 50 global retailers can be found on the NRF’s website.
Editors' Picks
Sponsored by
More on Majors
The Latest
GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
ColumnistsJan 28, 2026
Peter Smith: Setting the Next Generation Up for SuccessIn his new column, Smith advises playing to your successor's strengths and resisting the urge to become a backseat driver.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
