The National Retail Federation (NRF) and Kantar have released the 2025 Top 50 Global Retailers list. The report confirms Walmart and Amazon as the world’s most dominant retail forces, while highlighting the rising influence of emerging-market leaders such as Reliance and Lulu Group.

The 2025 Global Top 50

Ranked by a system evaluating international and domestic retail impact, the Top 10 is led by U.S. and European giants:

Rank

Retailer

Home Country

Revenue ($B)

Stores

Points

1

Walmart

USA

$692

10,816

509

2

Amazon.com

USA

$422

620

397

3

Schwarz Group

Germany

$189

14,667

294

4

Aldi

Germany

$166

14,215

271

5

Costco

USA

$266

915

233

6

Ahold Delhaize

Netherlands

$103

9,937

171

7

Carrefour

France

$93

13,318

132

8

IKEA

Netherlands

$49

486

95

9

Home Depot

USA

$162

2,362

94

10

Walgreens Boots Alliance

USA

$127

11,605

85

11

Seven & I

Japan

$66

38,491

77

12

Rewe

Germany

$73

12,451

69

13

Jeronimo Martins

Portugal

$40

7,075

68

14

AS Watson

Hong Kong

$38

15,569

66

15

Apple

USA

$85

531

60

16

Inditex

Spain

$42

5,336

59

17

Metro AG

Germany

$31

7,239

54

18

Tesco

UK

$73

4,906

50

19

TJX

USA

$59

5,240

49

20

Alibaba

China

$76

457

46

21

Aeon

Japan

$70

11,042

41

22

H&M

Sweden

$20

3,867

38

23

Auchan

France

$32

2,283

37

24

Intermarche

France

$49

4,088

36

25

Coop Schweiz

Switzerland

$35

3,166

35

26

Aspiag

Switzerland

$17

2,456

35

27

Fast Retailing

Japan

$24

3,544

33

28

Sephora (LVMH)

France

$18

2,172

33

29

Couche-Tard

Canada

$18

13,291

32

30

Leclerc

France

$51

2,006

30

31

Ceconomy

Germany

$23

975

29

32

Adeo Group

France

$23

1,032

29

33

Decathlon

France

$17

1,853

27

34

Action

Netherlands

$17

3,336

27

35

Euronics International

Netherlands

$13

4,110

26

36

Best Buy

USA

$42

1,103

26

37

JD Sports

UK

$14

6,004

23

38

Cencosud

Chile

$17

1,264

22

39

CP All

Thailand

$31

18,589

21

40

Kingfisher

UK

$16

1,686

20

41

FamilyMart

Japan

$26

24,955

20

42

lululemon

Canada

$10

765

20

43

dm drogerie markt

Germany

$20

4,189

19

44

Primark

UK

$13

463

18

45

Phoenix

Germany

$9

4,336

18

46

Expert

Switzerland

$9

1,816

17

47

Reliance

India

$33

4,682

17

48

Migros

Switzerland

$28

2,580

16

49

Falabella

Chile

$12

534

16

50

Lulu Group

UAE

$10

313

16


Key Market Dynamics

  • The Dominance of Food & Mass Merch: Over 60% of the top 10 positions are held by grocery-focused retailers (Schwarz, Aldi, Ahold Delhaize, Carrefour), underscoring the resilience of essential retail.
  • Asian Growth Hubs: The inclusion of Reliance (India), CP All (Thailand), and Lulu Group (UAE) reflects the shift of retail density toward high-growth, mobile-first economies.
  • German Expansion: Germany remains the most successful international exporter of retail formats, with Schwarz Group and Aldi holding massive store counts across multiple continents.

Key Market Insights

  • Growth in Asia: India’s Reliance (#47) and Thailand’s CP All (#39) represent significant shifts in regional density and in the scaling of digital infrastructure.
  • Germaan Dominance: Four German retailers rank among the Top 20, driven by the aggressive global expansion of discounters such as Lidl and Aldi.
  • Global Hubs: The UAE’s Lulu Group (#50) makes a notable entry, underscoring the Middle East’s growing role in international trade.

Ranking Methodology

To minimize currency distortion, Kantar converts local revenues to U.S. dollars via the IMF rates database. Eligibility requires:

  • Direct retail investment in at least three countries.
  • At least one operation in a non-adjacent country to the home market.
  • A primary focus on goods for consumer resale.

Source: National Retail Federation (NRF) and Kantar Retail IQ, 2025/2026 Analysis.

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