Top 20 Retail brands in the World in 2023

The top 20 retail brands in the world in 2023 are the ones that have taken the help of trade agreements, globalization and tapping new markets to conduct business activities on a global scale. Based on the retail sales generated in the year 2023, it is seen that the retail industry is flourishing at an amazing rate.

The global retail industry is very competitive and so are the global brands who are doing their utmost to record substantial sales figures. The top 20 global retail brands are mentioned below with their annual revenues in 2022 to depict an accurate reflection of the brand’s performance throughout the year.

Top Retail Brands and Companies in the World in 2023

1. Walmart

Origin Country: United States of America
Founder: Sam Walton
Founded: 2nd July 1962
Headquarters: Bentonville, Arkansas, USA
Employees: 2,350,000
Annual Revenue in 2023: $152.301B (quarter ending April 30, 2023)
Net Income in 2023: $1.673B (quarter ending April 30, 2023)
Market Value in 2023: $415.0 billion USD
Market Cap in 2023: $426.38B (August 07, 2023)

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores in the United States, headquartered in Bentonville, Arkansas. Walmart continues to dominate both the domestic market in the US and the international market through its business model.

Hailed as one of the top retail brands in recent years because of record-breaking sales figures, Walmart is the undisputed leader of the global retail industry and is simply the best in the business. Walmart opened a new 2.2 million square foot fulfillment center in McCordsville, Indiana, in June 2023. The grocery concepts of Walmart focus on customer experiences and satisfaction and thus give stiff competition to its rival brand Whole Foods Market.

Walmart employs 2.3 million associates worldwide and serves more than 200 million customers each week at more than 11,000 stores in 27 countries. Retail channels of publicly-traded company Walmart include a chain of grocery stores, hypermarkets and discount department stores. It also operates retail warehouses “Sam’s Club” and currently has 10,500 clubs and stores operating via 46 brand names in 20 countries.

2. Amazon

Origin Country: United States of America
Founder: Jeff Bezos
Founded: 5th July 1994
Headquarters: Seattle, Washington and Arlington, Virginia, USA
Employees: 1,700,000
Annual Revenue in 2023: $134.383B (quarter ending June 30, 2023)
Net Income in 2023: $6.750B (quarter ending June 30, 2023)
Market Value in 2023: $2,000 billion USD
Market Cap in 2023: $1432.04B (August 07, 2023)

Amazon.com, Inc. is an American multinational technology company that focuses on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. Amazon.com, Inc has become of the most prominent retail companies in the world because of the brand’s focus on value shopping, aggressive reinvestment and advanced technology. It is an eCommerce platform that serves a worldwide market via the company website. It draws strong sales figures from North America and new markets in Asia and Latin America.

With the acquisition of Whole Foods Market, the brand has been able to expand its market share as a top-notch physical retailer and gives stiff competition to Walmart.

The publicly-traded technology company started its journey as an online platform for books and with time has become the largest online marketplace in the world. Amazon has broadened its retail product portfolio and services to include groceries, local products, apparel, luxury fashion, cosmetics, accessories and electronics.

3. Costco Wholesale Corporation

Origin Country: United States of America
Founder: James Sinegal, Jeffrey Brotman
Founded: 15th September 1983
Headquarters: Issaquah, Washington, USA
Employees: 315,000
Annual Revenue in 2023: $53.648B (quarter ending May 31, 2023)
Net Income in 2023: $1.302B (quarter ending May 31, 2023)
Market Value in 2023: $250.0 billion USD
Market Cap in 2023: $244.61B (August 07, 2023)

4. Schwarz Group

Origin Country: Germany
Owner: Dieter Schwarz
Founder: Josef Schwarz
Founded: 1930
Headquarters: Neckarsulm, Germany
Employees: 525,000
Annual Revenue in 2023: $162.4 billion USD (Feb 2023)
Turnover: €130.8 billion

Schwarz Group is the fourth-largest retail brand worldwide and the largest retailer in Europe based on revenues. The family-owned company operates discount grocery stores under Lidl and Kaufland and sells private label retail brands. The brand also operates production facilities for ice cream, sweets, soft drinks and baking goods.

The Schwarz Group is based in Neckarsulm, Baden-Württemberg, Germany. It has 550,000 employees in 32 different countries As one of the top 20 retail brands, it has managed to ensure continued retail store remodels in Western Europe and better online penetration in other parts of the world.

5. The Home Depot, Inc.

Origin Country: United States of America
Founded: 1978
Headquarters: Atlanta, Georgia, USA
Employees: 500,000
Annual Revenue in 2023: $37.257B (quarter ending April 30, 2023)
Net Income in 2023: $3.873B (quarter ending April 30, 2023)
Market Value in 2023: $425.0 billion USD
Market Cap in 2023: $328.18B (August 07, 2023)

The Home Depot, Inc. is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. It is the largest home improvement retailer in the United States, with 690 stores in 43 states and 5 Canadian provinces

Home Depot is one of the leading retail companies with well-balanced operations in North America like the USA, Guam, US Virgin Islands, Canada, Mexico and Puerto Rico. It is the largest retailer of home improvement in Canada and the USA.

The multinational company operates hardware stores in big-box formats and sells home improvement products, garden and lawn products and building materials. Services include tool and equipment rental and installation services.

6. The Kroger Co

Origin Country: United States of America
Founder: Bernard Kroger
Founded: 1883
Headquarters: Cincinnati, Ohio, USA
Employees: 475,000
Annual Revenue in 2023: $45.165B (quarter ending April 30, 2023)
Net Income in 2023: $0.962B (quarter ending April 30, 2023)
Market Value in 2023: $37.5 billion USD
Market Cap in 2023: $35.52B (August 7, 2023)

The Kroger Co is a large retail company that specializes in the production and distribution of food and non-food products.

Kroger Co is one of the top retail brands in the world that operates directly as well as its subsidiaries via department stores, superstores, hypermarkets, convenience stores and supermarkets. It is the largest supermarket operator and fifth-largest general retailer in the United States. The Kroger Co has nearly 2,800 stores in 35 states under two dozen banners.

7. Walgreens Boots Alliance, Inc.

Origin Country: United States of America
Owner: Stefano Pessina (16%)
Founded: 2014
Headquarters: Deerfield, USA
Employees: 325,000
Annual Revenue in 2023: $35.415B (quarter ending May 31, 2023)
Net Income in 2023: $0.118B (quarter ending May 31, 2023)
Market Value in 2023: $50.0 billion USD
Market Cap in 2023: $25.78B (August 7, 2023)

The holding company Walgreens Boots Alliance, Inc. is one of the top global retail brands based on revenues. It is the owner of distribution and manufacturing pharmaceutical companies and the retail chains Walgreens and Boots in the pharmacy industry. Its wholesale operations supply healthcare products, medicines and related services to hospitals, health centres and doctors.

Walgreens Boots Alliance has more than 325,000 team members and a retail footprint of approximately 13,000 stores.

The pharmacy-led integrated pharmacy, healthcare and retail brand is serving millions of patients and customers daily via 13,000 locations, 35,000 pharmacists, 8,965 drugstores and 3989 international retail stores across 9 countries for instance Latin America and US.

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8. Aldi Einkauf GmbH & Co. OHG

Origin Country: Germany
Founder: Karl Albrecht and Theo Albrecht
Founded: 1946
Headquarters: Essen, Germany
Annual Revenue in 2023: $123.5 billion USD

The highly standardized model that shows continued support and growth has helped Aldi Einkauf GmbH & Co. OHG to become one of the leading retail brands in the world. It is a chain of discount supermarkets and convenience stores with operations in 20 countries via 12000+ stores.

Aldi Einkauf GmbH & Co. OHG also offers wholesale distribution of grocery items and related products. The product portfolio includes packaged goods, fresh products, food, kitchenware, electric products, apparel, toys, alcoholic drinks, dairy products, meats, frozen foods, cosmetics and healthcare products.

9. JD.com, Inc

Origin Country: China
Founder: Liu Qiangdong
Founded: 2009
Headquarters: Beijing, China
Employees in 2023: 310,000
Annual Revenue in 2023: $35.377B (quarter ending March 31, 2023)
Net Income in 2023: $0.912B (quarter ending March 31, 2023)
Market Value in 2023: $125.0 billion USD
Market Cap in 2023: $54.6B (August 07, 2023)

JD.com, Inc. is China’s largest online retailer and its biggest overall retailer, as well as the country’s biggest internet company by revenue. It is a one-stop e-commerce platform that provides over 580 million active customers with direct access to an unrivaled range of authentic, high-quality products, and helps leading local and international brands tap into China’s fast-growing e-commerce market.

JD.com, Inc is one of the topmost retail brands and B2C eCommerce platforms in China by revenue and transaction volume. The online retail store has a diversified product portfolio for its shoppers as it sells computers, mobile phones, electronics and general merchandise like books and video products.

JD.com, Inc is also an eCommerce marketplace for third-party vendors as they can sell products to customers via mobile apps and websites. It is one of the top retail companies that have footprints in AI delivery and high technology through robots, autonomous technology and drones. It also operates the largest drone-delivery system in the global arena.

10. Target Corporation

Origin Country: United States of America
Founded: 1902
Headquarters: Target Plaza, Minneapolis, USA
Employees in 2023: 460,000
Annual Revenue in 2023: $25.322B (quarter ending April 30, 2023)
Net Income in 2023: $0.950B (quarter ending April 30, 2023)
Market Value in 2023: $115.0 billion USD
Market Cap in 2023: $61.17B(August 7,2023)

The American-origin Target Corporation is one of the top 20 retail brands in the world and the seventh-largest retailer in the United States.Target Corporation is a general merchandise retailer with stores in all 50 U.S. states and the District of Columbia. It operates a chain of big-box format department stores that are hugely popular amongst avid shoppers.

The company has 1,954 stores in the U.S. and 30 office locations globally. Target has 56 supply chain facilities and 45+ owned brands unique to Target.

Target Corporation has spread its presence to the United States, Latin America and Canada via 1,938 stores. It sells general and curated merchandise along with food assortments like frozen products, dairy products, dry groceries and perishables.

11. CVS Health Corporation

Origin Country: United States of America
Founder: Stanley Goldstein, Ralph Hoagland, and Sidney Goldstein
Founded: 1963
Headquarters: Woonsocket, Rhode Island, USA
Employees: 310,000
Annual Revenue in 2023: $88.921B (quarter ending June 30, 2023)
Net Income in 2023: $1.901B (quarter ending June 30, 2023)
Market Value in 2023: $145.0 billion USD
Market Cap in 2023: $93.62B (August 7, 2023)

CVS Health Corporation is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company is the world’s largest healthcare company, and its headquarters are in Woonsocket, Rhode Island.

CVS Health Corporation is one of the most successful retail brands associated with managed healthcare, pharmacy and health insurance. It offers its products and services through subsidiaries like CVS Pharmacy, a chain of retail pharmacies, Aetna, a provider of health insurance and CVS Caremark, a pharma benefits manager.

The leading health solutions company is dedicated to improving the health of communities through digital channels, local presence and dedicated 40,000 physicians, pharmacists and nurses. CVS Health Corporation has over 300,000 employees across all 50 states and Puerto Rico.

12. Lowe’s Companies, Inc

Origin Country: United States of America
Founder: Lucius Smith Lowe
Founded: 1921
Headquarters: Mooresville, North Carolina, US
Employees: 350,000
Annual Revenue in 2023: $22.347B (quarter ending April 30, 2023)
Net Income in 2023: $2.254B (quarter ending April 30, 2023)
Market Value in 2023: $175.0 billion USD
Market Cap in 2023: $130.74B (August 2023)

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Lowe’s Companies, Inc is a home improvement products retailer that operates over 1,700 home improvement stores and employs approximately 300,000 associates. As of May 9, 2023, Lowe’s Companies, Inc. has 1,739 stores in the United States.

Lowe’s hardware chain has the second-largest rankings in both US and the world behind The Home Depot. The speciality retailer is a one-stop destination for customers as it sells a wide range of products which include home décor, do-it-yourself home improvement products, home construction products and home repair products.

In 2023, Lowe’s sold its Canadian retail business, based in Boucherville, Quebec, to Sycamore Partners for $400 million in cash. They will all be consolidated into Rona stores.

13. Ahold Delhaize

Origin Country: Netherlands
Founded: 25th July 2016
Headquarters: Zaandam Netherlands
Employees in 2023: 385,000
Annual Revenues in 2023: $23.211B (quarter ending March 31, 2023)
Net Income in 2023: $0.602B (quarter ending March 31, 2023)
Market Value: $40 billion USD
Market Cap in 2023: $32.65B (August 7, 2023)
Shoppers: 60 million per week

Ahold Delhaize is one of the top retail companies in the world in 2022 associated with wholesaling and retail industry. It is the largest retailer of food in the United States and operates via 7,659 local stores, eCommerce sites, new fulfilment capabilities and 414,000 associates across 23 states in America. Ahold Delhaize operates in 10 countries, including the Netherlands, Belgium, the United States, and Indonesia.

The product portfolio includes fresh foods, natural goods and organic products.

The retail brand functions via drugstores, hospitals and luxury fashion via eCommerce platforms, websites, hypermarkets, convenience stores, liquor stores, drugstores and non-food stores. Integrated loyalty apps send a strong message to existing and future shoppers as it depicts better customer experiences.

14. Aeon Co Ltd

Origin Country: Japan
Founded: 1758
Headquarters: Aeon Tower, Mihama-Ku Chiba, Japan
Annual Revenues in 2023(TTM): $66.76 B
Net Income in 2023: $185.0 million USD
Market Cap in 2023: $18.67 billion USD (August 2023)

The Japanese-origin holding company Aeon Co Ltd is the largest retailer brand in Asia and one of the top 20 retail brands in the world. It operates with help of a retail channel that includes 26 affiliated brands and 300 consolidated subsidiaries. It is one of the largest retail companies in Japan, with over 560,000 employees as of 2023.

Aeon Co Ltd deals with consumers through various store formats like convenience stores, discount stores, department stores, supermarkets and hypermarkets. The product portfolio includes 2,400 consumer products like food, clothing, home furnishing and housewares.

15. Tesco Plc

Origin Country: United Kingdom
Founder: Jack Cohen
Founded: 1919
Headquarters: Welwyn Garden City, England, UK
Employees in 2023: 365,000
Annual Revenues in 2023: $79.842B
Net Income in 2023: $0.905B
Market Cap in 2023: $22.76B (August 07, 2023)

Tesco Plc has the distinction of being one of the major British retail brands in the world. Tesco Plc is a leading multinational retailer with more than 330,000 employees. It has a market share of 28.4% in the grocery market of the United Kingdom. The company has spread its presence to the United Kingdom, Hungary, Slovakia, Czech Republic and Ireland with help of 4,673 locations. It has more than 2,300 supermarkets and convenience stores worldwide.

Tesco has been expanding its operations over the years. For example, in May 2023, the company opened a new Tesco store in Bath, UK, and a new express convenience store in Morecambe.

The leading retailer deals in general merchandise and grocery items and sells food items, books, furniture, toys, software, petrol, apparel and luxury homeware. The company also deals in insurance services and banking services.

16. Albertsons Companies, Inc

Origin Country: United States of America
Founder: Joe Albertsons
Founded: 1939
Headquarters: Boise, Idaho, US
Employees in 2023: 300,000
Revenues in 2023: $24.050B (quarter ending May 31, 2023)
Net Income in 2023: $0.417B (quarter ending May 31, 2023)
Market Cap in 2023: $12.52B (August 07, 2023)

Albertsons Companies, Inc. is one of the largest food and drug retailers in the United States, with over 2,200 stores in 34 states and the District of Columbia under 20 well-known banners. The company was founded in 1939 by Joe Albertson, a former Safeway district manager, who partnered with L.S. Skaggs to open his first Albertsons store in Boise, Idaho.

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As of February 25, 2023, the company operated 589 stores located in California and 215 stores located in Washington state.

Albertsons Companies, Inc operates 20 manufacturing facilities, 22 distribution centres, 401 associated fuel centres, 1,722 pharmacies and 2,200 food and drug shops.

17. Edeka Group

Origin Country: Germany
Founder: Karl Albrecht and Theo Albrecht
Founded: 1907
Headquarters: Hamburg, Germany
Employees in 2023: 404,900
Annual Revenues in 2023: $101.2 billion USD
Net Income in 2023: $2.5 billion USD
Market Cap in 2023: $20.2 billion USD

Edeka Group is the largest chain of supermarkets in Germany and one of the top 20 retail brands in the world. In 2022, Edeka Group operated over 11,000 stores in Germany. Edeka Group is a private limited company that operates cooperatives of supermarkets and retail stores.

Edeka Group offers its consumers a wide range of products like beverages, organic foods, oils, cosmetics, local products and apparel at reasonable prices. The Group’s business activities also included Polymer Additives, Functional Chemicals, Life Sciences and IT Chemicals.

18. Rewe Group

Origin Country: Germany
Founder: Karl Rewe
Founded: 1927
Headquarters: Cologne, Germany
Employees in 2023: 430,000
Annual Revenues in 2023: $108.5 billion USD
Net Income in 2023: $2.7 billion USD
Market Cap in 2023: $21.5 billion USD

The German company Rewe Group is a diversified co-operative group associated with the tourism and retail industries. It is one of the top 20 brands in the world in 2022 and includes a network of independently-acting retailers.

The group operates in Germany and 20 other countries, with stores, travel agencies, and an online presence. The REWE Group has around 384,000 employees in its stores, offices, and logistics operations.

Rewe Group is the second-largest chain of supermarkets in Germany after Edeka Group. It operates consumer stores, discount stores, supermarkets, drug stores, eCommerce channels, partner stores and specialist stores. The product portfolio includes DIY goods, food products, groceries, beverages and gardening supplies etc.

19. Seven & I Holdings Co. Ltd

Origin Country: Japan
Founder: Masatoshi Ito
Founded: 1927
Headquarters: Tokyo, Japan
Employees in 2023: 555,000
Revenues in 2023: $16.670B (quarter ending May 31, 2023)
Net Income in 2023: $0.312B (quarter ending May 31, 2023)
Market Cap in 2023: $36.33B (August 07, 2023)

Seven & I Holdings Co., Ltd. is a Japanese diversified retail group headquartered in Nibancho, Tokyo. It was founded in 1920 as Ito-Yokado, the Japanese chain of general merchandise and department stores.

Seven & I Holdings Co., Ltd. competes with other companies in the retail industry, such as Walmart, Amazon, and Costco.

As of the end of February 2023, the company had approximately 85,000 stores worldwide. The company has dedicated its efforts to meeting customer needs via high-quality products.

20. Best Buy Co, Inc

Origin Country: United States of America
Founded: 1966
Headquarters: Richfield, Minnesota, US
Employees in 2023: 110,000
Revenues in 2023: $9.467B ( quarter ending April 30, 2023)
Net Income in 2023: $0.244B (quarter ending April 30, 2023)
Market Cap in 2023: $17.42B (August 7, 2023)

Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Best Buy Co, Inc is one of the multi-national retailers determined to meet most of the customer needs through 1,000 stores in Canada and United States. The brand offers its merchandise through retail stores, call centres, mobile applications and an online platform.

Best Buy is a public company that operates in the retail industry, with over 1,100 locations in the United States. The product offerings of the retailer include mobile devices, computing, consumer electronics, home-office products, entertainment products and appliances. Services include technical support, set-up, design, consultation, educational classes, installation and delivery.

Best Buy Co., Inc. is a well-established and prominent player in the retail industry, with a strong focus on providing quality products and services to customers.

Conclusion

The top 20 retail brands in the world in 2022 are the largest retailers that have managed to tap into new and emerging markets to gain a huge share in the world market. Retail companies in recent years have used all the retail channels at their disposal like retail stores at strategic locations, digital channels and eCommerce platforms to identify, reach, connect and satisfy millions of customers all over the world.

Some of the other equally popular and largest retailers of 2022 are

Bath Body Works
World Duty Free
Nuance
Dollar General
Ross Stores

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